Amplats to retrench 3,700 workers and review contracts with 620 suppliers
Miner says it needs to ‘take active steps to secure its long-term sustainability’ with R5bn in cost cuts
19 February 2024 - 09:32
UPDATED 19 February 2024 - 22:55
Anglo American Platinum (Amplats) has initiated a section 189A process that is likely to result in the retrenchment of 3,700 employees across its platinum mining business as it seeks to reduce R5bn in costs.
The group reported that profit for the year decreased 71%, due largely to a 35% decline in the platinum group metals (PGMs) dollar basket price during the 2023 financial year...
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