Impala Platinum warns of ‘large-scale’ job losses at Marula mine
Impala Platinum said protests at its Marula mine in northeast South Africa and low metal prices had led the company — the world’s second-largest producer of the metal — to start a reorganisation process that may lead to "large-scale" job losses. "This is something the business and economy can ill afford, but remains imperative if we are to protect the financial viability of our business and preserve jobs as far as possible," CEO Gerhard Potgieter said on Wednesday. The company did not say how many jobs may be affected. Marula employs almost 4,400 workers and contractors, according to Impala’s website. The company reduced its annual production forecast for the mine in February due to community protests. The decision comes as SA struggles to reduce unemployment, which was 26.5% in the fourth quarter of last year. Mining companies have battled with low metal prices and demands for higher wages and living standards from their workers. Impala said third-quarter refined platinum output dr...
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