February 10, 2009

Anglo Platinum to cut 10,000 jobs

South African mining group Anglo Platinum has said it will cut 10,000 jobs in 2009 to lower costs amid a drop in platinum prices and demand. The jobs will be eliminated by firing contractors and not replacing departing permanent staff.

Anglo Platinum, the world’s biggest platinum miner which is majority owned by London-based mining giant Anglo American, reported a 5% fall in operating profit amid higher costs and lower sales.

Source: BBC

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