JOHANNESBURG – Anglo American Platinum (Amplats) on Wednesday sold its labour-intensive South African mines to bullion producer Sibanye Gold for 4.5 billion rand ($331 million) to focus on newer, mechanised mines.
A record five-month strike at Amplats’ Rustenburg operations and at mines owned by rivals Impala Platinum and Lonmin forced the company sell underperforming shafts.
The mines combined employ 16,000 workers.[pro_ad_display_adzone id=”70560″]
“We remain committed to pursuing our strategy, continuing to reposition Anglo American Platinum as a high quality, largely mechanised operator yielding high margins,” the company said in a statement.($1 = 13.6010 rand)(Reuters)
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