Anglo to shake up struggling platinum business

Resources giant Anglo American has launched a restructuring and cost savings programme for its South African platinum operations as it emerged that the division would record a big loss for 2012 after being hit by strikes and falling prices.

Resources giant Anglo American has launched a restructuring and cost savings programme for its South African platinum operations as it emerged that the division would record a big loss for 2012 after being hit by strikes and falling prices.

Anglo American Platinum, widely known as 'Amplats', said on Tuesday that it has come up with a "clearly defined proposed strategy to create a sustainable, competitive and profitable platinum business for the long term benefit of all its stakeholders."

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