Anglo American Plans Extensive Cost Cutting at South African Operations, Reuters Reports
07 Dicembre 2023 - 4:29PM
Dow Jones News
--Anglo American plans sweeping cost cuts at its South African
operations, including mothballing higher-cost platinum mines, which
would widen job cuts in the sector, Reuters reports, citing sources
familiar with the matter.
--Cost-cutting measures include shelving plans to boost output
at Anglo American Platinum's key Mogalakwena mine and place some
shafts at the Amandelbult operations on care and maintenance,
should the platinum metals prices remain weak, Reuters reports.
--The moves, including a lower output guidance, could be
announced at the miner's trading update on Friday, Reuters
reports.
--Anglo American declined to comment when contacted by Dow Jones
Newswires.
Full story: https://tinyurl.com/34am6rum
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
December 07, 2023 10:14 ET (15:14 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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