APA-Pretoria (South Africa) Some 3,700 South African miners are expected to lose their jobs at Anglo-American Platinum (Amplats) following a 71-percent loss in profits at the company, Amplats has announced.
Announcing this in a statement on Monday, the company said it had embarked on a restructuring process that would affect some 3,700 miners at its South African operations.
Amplats said it was currently making efforts to lower costs amid falling platinum-group metals (PGMs) prices.
In addition, the miner was also reviewing its contracts with some 620 service providers, the miner said.
Amplats produces PGMs such as copper, nickel, PGMs, diamonds (through De Beers), and premium quality iron ore and steelmaking coal.
NM/jn/APA