Bad news for fiscus as Amplats warns profit could plunge R20bn
Anglo American Platinum (Amplats) has warned that its half-year profit is likely to plunge by as much as R20bn on weak metal prices and lower production — further evidence that the taxman will collect less from the mining industry.
Amplats, the world’s largest primary producer of platinum, accounting for nearly 40% of global annual supply, said on Monday its profit for the six months to end-June would probably come in 75% lower...
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