Implats confident about restructure

Impala Platinum is confident of having adequate cash while restructuring its operations and cutting its workforce despite reporting a wider fullyear loss.

Implats plans to cut about a third of its staff – more than 13 000 jobs – over two years at its labour-intensive, conventional operations in the Rustenburg platinum belt.

Shafts will be reduced to six from 11 with production cut to 520 000 ounces per annum from 750 000 ounces.– Reuters