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The planned 6 000 job cuts include contractors and staff who took voluntary redundancy packages offered in May.
A weaker rand has help profits at Patrice Motsepe’s mining company rise despite a fall in iron ore prices.
The platinum miner seeks to up its production in expectation of a deficit on platinum supply from 2018 onward.
The platinum miner will sell shares to the Bapo ba Mogale community in a bid to meet a black ownership target of 26% by 2015.
The Anglo American unit which had enjoyed sky-high iron ore prices in the past now faces a decline in profits as the metal price drops.
Anglo American Platinum, may sell some mines after profits for the first half of the year fell 88%, following a five-month strike.
Ahead of the release of its full earning report, Anglo American Platinum said it expects it finances were adversely affected by industrial action.
Two days after taking up his post, Ngoako Ramathlodi has established an intergovernmental technical team to resolve the strike in the platinum belt.
Writing off the investment in Africa’s largest economy will see the food company’s earnings half of that achieved in the previous financial year.
Lonmin chief executive Ben Magara has said that the company will need to cut jobs if the workers do not return to work soon.
Lonmin will recommence smelting this month as it expects an end to the 15-week strike that has crippled its operations.
The platinum strike has entered its 11th week and employees want to return to work but are being intimidated, says Lonmin chief executive Ben Magara.
Platinum companies have claimed to be in touch with employees who want to come back to work but fear being killed by protesters if they do.
Anglo American Platinum could see its rally in stocks reversing once the effects of the Amcu strike are calculated, says Imara SP Reid.
The CCMA has objected to the Chamber of Mines’s chief negotiator saying the commission was making it "incredibly frustrating" to reach a settlement.
The second biggest platinum producer is reporting good earnings despite a wage strike entering its sixth week.
Platinum miners would rather endure the "short-term pain" of losing millions each day than give up ground on a wage settlement.
The head of Anglo Platinum – the world’s largest platinum producer – has earned R17.6-million while the company struggles with wage negotiations.
Amcu, the dominant union in the platinum sector, looks likely to win recognition at Kumba Iron Ore, which announced an increased profit on Tuesday.
Wage negotiations between major platinum producers and Amcu collapsed last week but are expected to begin again on Tuesday as the strike continues.
