Anglo American chief mulls sale of strike-hit SA platinum mines: firm
April 15, 2014, 12:01 am TWN
JOHANNESBURG, South Africa--Anglo American's chief executive has hinted that the mining titan is looking to offload its strike-hit South African platinum mines to concentrate on open-cast extraction.
The London-listed firm's operations in South Africa's platinum belt north of Johannesburg have been idle for close to three months, forcing the firm to dig into reserves and hitting its bottom line.
About 80,000 miners are on strike and have vowed not to return to the shafts until their minimum monthly wage is doubled to 12,500 rand, around US$1,200.