Platinum Slides 1.2% on Amplats Job Cut Delay

Jan. 28, 2013 10:01PM PST

Reuters reported that platinum posted its highest one-day drop in more than a month as Anglo American Platinum agreed to put on hold its plans to cut jobs in its South African properties

Reuters reported that platinum posted its highest one-day drop in more than a month as Anglo American Platinum agreed to put on hold its plans to cut jobs in its South African properties.

As quoted in the market news:

Platinum fell 1.2 percent after South Africa, Amplats and labor unions agreed to postpone restructuring that could lead to 14,000 job cuts to allow for more talks.

Click here to read the full Reuters report.