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Amplats to cut managerial posts at Rustenburg

24 Jun 2015

Anglo American Platinum (AMS, Amplats) will cut up to 420 managerial and supervisory jobs at its wholly-owned Rustenburg Platinum Mines subsidiary where it is consolidating mining operations to cut costs in a weak market.

Amplats to cut managerial posts at Rustenburg

The affected mines exclude the Rustenburg and Union mines, which Amplats has earmarked for a sale or listing on the Johannesburg bourse. Amplats has said it will decide in June which option it will pursue.

Rustenburg Platinum Mines has issued a section 189 notice at its operations to affected people in organisational support positions. The process is due to end by August 22 as regional offices at its Rustenburg, Amandelbult, and Polokwane are folded into nearby mines and the Johannesburg corporate office.

"The proposed redesign takes into account the financial difficulties in the PGM (platinum group metals) industry and is a continuation of Anglo American Platinum's value-driven strategy," the company said in a statement.

"It aims to improve the company's financial sustainability by aligning the support structure with the proposed reconfiguring of operations into large, more efficient mining complexes benefiting from increased scale and less complexity," it said.

The Tumela and Dishaba mines will be consolidated with the Amandelbult concentrator to be called the Amandelbult operation.

The most profitable mine in the Amplats' stable, Mogalakwena, and the concentrator will become a single operation called Mogalakwena.

"In addition to the anticipated reduction in support staff, the company is seeking to further substantially reduce indirect costs allocated to the operations," Amplats said.

The employees at the Rustenburg and Union mines were ring-fenced and excluded from this process, Amplats said.

Source: BDpro

Source: I-Net Bridge

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