THE UGLY

Finweek English Edition - - THE WEEK -

More jobs are at risk in the plat­inum in­dus­try, with 60% of the in­dus­try cur­rently loss-mak­ing, Chris Grif­fith, CEO of An­glo Amer­i­can Plat­inum (Am­plats), told Reuters. Am­plats, the world’s big­gest pro­ducer of the metal, has cut 15 000 jobs over the last four years. Grif­fith warned that pol­icy un­cer­tainty in SA – the in­dus­try is await­ing a new Min­ing Char­ter, which will guide re­quire­ments around black own­er­ship, among other ar­eas – and low com­mod­ity prices are hurt­ing in­vest­ment in the sec­tor, Reuters re­ported. “There will be fur­ther ra­tio­nal­i­sa­tion of the mines and it’s go­ing to lead to fur­ther job losses in SA,” he said. (Also see page 14.)

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.