-
South Africa’s Platinum Miners Brace for More Pain This Year
South Africa’s platinum producers are in crisis, as slumping metal prices force jobs cuts and erode profits. The nation’s platinum sector — which accounts for about 70% of global output — has been a key export industry and generates jobs for hundreds of thousands of people in a country with one of the world’s highest unemployment rates. Over the past two weeks, the four biggest producers — Sibanye Stillwater Ltd., Anglo American Platinum Ltd., Impala Platinum Holdings Ltd. and Northam Platinum Ltd. — have all released sobering earnings reports. Those results have helped us learn the following: Jobs ... (full story)