Anglo American Platinum producer suffers loss

ANGLO AMERICAN PLATINUM
World's largest platinum producer suffers loss

The miners in South Africa lay with strikes paralyzed the mines, the platinum price falls - the world's largest producer of the precious metal now collects the receipt, Anglo American
The miners in South Africa are alarmed: Anglo Platinum plans to cut 14,000 positions.
Source: AFP
JohannesburgDer world's biggest platinum producer, Anglo Platinum reports for fiscal year 2012 a loss. The South African group piling up a deficit of $ 166 million. In the previous year, the Group generated a profit of about $ 400 million. The loss was higher than expected by analysts.



The Group performed as a reason for the loss of rising costs and a decline in prices for processed platinum. Moreover shook bloody strikes the Group. The workers resisted layoffs and demanded higher pay. The work in the mines rested for weeks.
The biggest commodity companies in the world
Anglo American
The South African-British company makes its money primarily with industrial and precious metals, diamonds and coal -. The Group achieved a market capitalization of $ 45.4 billion. To the portfolio, as well as the De Beers diamond miners. Anglo American is the largest corporation in the world platinum.
Source: Bloomberg, as of 10 January 2013.

But the trouble could go further. Example, announced the precious metals producer at the beginning of the year to close four of its mines in South Africa. The South African group cuts its production increase of 400,000 ounces of gold per year. This corresponds to 19 percent of total production.
The move could also affect more than 14,000 workers. This threatens to about a quarter of the workforce unemployed. The planned job cuts, the Group sold but for the time being. They would postpone the decision by up to 60 days to talk to the unions and the government. Overall, the Group employs about 58,000 people.
The biggest platinum Nations
Colombia
USA
Zimbabwe
Canada
At the third position of the platinum producer Canada is second with a flow rate of ten tons. The reserves are set at 310 tonnes.
Russia
South Africa
The mining company controlled at least 40 percent of global production of platinum. More than half of the annual amount of supported platinum is used to make products such as auto catalysts.
Anglo Platinum is one of the commodity group Anglo American, which is involved, among other things on the conveyor De Beers diamonds. The mining giant is struggling with numerous problems. So had the group write off billions in Brazil. The boss Cynthia Carroll must go and be replaced by Mark Cutifani.
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