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Anglo American Platinum outlines drastic survival strategy

BDLive reports that Anglo American Platinum (Amplats) has warned that its headline earnings, which strip out impairments of R14bn, would be at least 20% or R157m lower than the previous year’s profit of R786m that had been dragged lower by a five-month wage strike action at its Rustenburg mines.   Source:...

With Samwu to down tools today, Tshwane braces for dry taps

The Citizen reports that the SA Municipal Workers’ Union (Samwu) in Tshwane announced yesterday that between 200 and 300 of its members employed by the Sandspruit Works Association (a municipal entity of the City of Tshwane) would officially down tools at 7am today (Wednesday).   Source: Latest News

Anglo American gets rid of bulk of mines and staff

BDLive reports that Anglo American on Tuesday unveiled a “radical restructuring”, which will see it cutting aggressively into both its staff and asset portfolio to tackle its heavy debt burden by reducing costs and removing marginal or unprofitable mines.   Source: Latest News