Implats in talks to sell 1 Sha

Impala Platinum (Implats) said it’s in talks to sell its 1 Shaft operation in Rustenburg in a move to make its struggling mines profitable, sending its shares higher.

Implats plans to trim staff by more than 13 000 jobs over two years at its labour-intensive operations in the Rustenburg platinum belt, where its 1 Shaft was scheduled to be put on maintenance. – Reuters