Implats now employs 40,000 people to produce 750,000oz of platinum a year.
Implats has already started the restructuring process and reduced its workforce from 42,300 in 2017. At 520,000oz it will fall below equally troubled Lonmin, which produces about 650,000oz of platinum a year.
Lonmin, which is the takeover target of Sibanye-Stillwater, is in the process of cutting 12,600 jobs as it closes old mines and focuses on newer, lower-cost operations. Both Implats and Lonmin have mines around Rustenburg.
Massive cuts needed
Implats CEO Nico Muller said the South African platinum industry, the world’s largest source of the metal, would need to cut between 600,000oz and 800,000oz of platinum and keep…
Read the full article at: https://www.businesslive.co.za/bd/companies/mining/2018-08-02-impala-platinum-to-cut-13000-jobs-in-two-years/