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Amplats Plans Restructure That May Affect About 3,700 Jobs
Anglo American Platinum Ltd. has proposed a restructuring that may affect more than 4,300 jobs across its South African operations, as plummeting metal prices squeezed profits. That’s a blow for what has long been one the country’s biggest export industries and is another setback for South Africa’s ruling African National Congress ahead of key elections later this year. The potential cuts could impact about 3,700 employees at the company known as Amplats — about 17% of its workforce — plus more than 600 contractors. In December, the company’s parent Anglo American Plc warned that returns for miners of ... (full story)