The second-biggest platinum miner in the world, Impala Platinum, is struggling with its troubled child - its Rustenburg operation, which accounts for over 40% of the group's production but is yet to be profitable. The Rustenburg mines, which were hit by a fire at its 14 Shaft two years ago, has also had fatalities, and operations have been under review since last year. The company has cut 1 400 jobs in the first half of its financial year to end-December, from a workforce of 40 000 employees, and shut its 4 Shaft. Although the business has managed to narrow its loss to R150-million compared to a loss of R508-million in the same period the previous year, it is undergoing an operational review where it's also harvesting three shafts this year. They are unprofitable at the current metal prices and rand price, so the company will have to shorten the shafts' lifespan to mine out more profitable grades and then close the shafts. Implats CEO Nico Muller said the harvested mines would not h...
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