Implats has hard decisions to make as it tries to halt losses at its ageing shafts
Impala Platinum (Implats) is facing some tough choices as the miner works to stem losses at ageing shafts amid slumping prices for the metal. The world’s second-largest producer has already cut 2,500 jobs in the year to end-June and says there may be more to come. Only three of the 10 shafts at its sprawling Rustenburg mining complex were making money as of March. Things have only got worse since then, with platinum prices dropping another 9% and hitting a nine-year low last week. Implats would announce results of a strategic review of Rustenburg in September, said spokesperson Johan Theron. The challenges facing the industry meant the miner could not discount the possibility of more job losses, he said. The company employs about 31,000 people at its Rustenburg operations.
The company said in March that the strategic review, announced in 2017, would look at measures to "refocus or close unprofitable areas" and could lead to shafts being closed earlier than planned. It would be...
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