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Anglo American Platinum Says South Africa Unrest Hurting Investment
Feb. 20, 2013 02:28PM PST
Precious Metals InvestingReuters reported that Anglo American Platinum, which is the largest platinum producer in the world, said the labor problems in its SA operation is jeopardizing the company’s investment and talks with the union and the government may not lead to a change in its proposed job cuts.
Reuters reported that Anglo American Platinum, which is the largest platinum producer in the world, said the labor problems in its SA operation is jeopardizing the company’s investment and talks with the union and the government may not lead to a change in its proposed job cuts.
As quoted in the market news:
The company, majority owned by Anglo American, has invested 9 billion rand ($1 billion) a year in South Africa on average over the past decade, but has seen its profits eroded by labour unrest, stagnant global demand and weaker prices.