Anglo American Platinum announces 15% job cuts amidst economic pressures
Anglo American Platinum is cutting 15% of its workforce (3,700 jobs) due to economic pressures and operational challenges.
Anglo American Platinum is cutting 15% of its workforce (3,700 jobs) due to economic pressures and operational challenges.
Anglo American is contemplating job cuts at two SA units due to declining metal prices and iron ore export bottlenecks, insiders revealed.
“Bullion is trading near the highest level in more than four months amid rising inflation expectations,” reports Bloomberg.
Should you invest in mining companies? AngloGold Ashanti has never been this cheap, says Peter Major. Stock-picking is called for.
Anglo American are intent to deliver value to shareholders, with the company planning on ramping up production whilst improving margins.
Platinum surged above $1,300 an ounce on bets that a recovery in industrial demand and stricter emissions rules will tighten supply of the metal.
Froneman said ‘the metal could climb by more than 80% over the next four to five years as the global economy recovers and supply dwindles’.
Lisa Segall and Magnus Heystek joined BizNews editor at large Jackie Cameron for a discussion on how to make the most of your hard-earned savings.
A Russian-backed project planning to build Zimbabwe’s biggest platinum mine has sold a 4.4% stake to Fossil Mines.
One of the largest sectors of the mining industry, platinum, may be heading the same direction gold did, as Covid-19 makes further investing less desirable.