Jan 15 Here is a look at troubles at Anglo
American Platinum, also known as Amplats, the world's
top platinum producer, after it said it would mothball two South
African mines, sell another and cut 14,000 jobs.
Amplats is 80 percent owned by Anglo American.
July 22, 2012 - Neville Nicolau announces his resignation as
chief executive at Amplats.
Aug. 16 - Police shoot dead 34 miners at a platinum mine
owned by Amplats competitor Lonmin, the worst unrest of weeks of
labour violence across the industry in which at least 50 people
Sept. 12 - Amplats halts operations at five mines in the
Rustenburg area over safety concerns, after staff down tools and
threaten non-strikers with violence.
Oct. 5 - Amplats dismisses 12,000 workers, or two fifths of
its workforce at Rustenburg, in an attempt to halt a wave of
Oct. 26 - Cynthia Carroll quits after more than five years
as chief executive of parent firm Anglo American. She also steps
down as chairwoman of Amplats and diamond company De Beers.
According to analysts, under Carroll Anglo lost one third of its
value on a U.S. dollar market capitalisation basis and is now
worth $25 billion less.
Oct. 27 - Workers reach a deal with Amplats to reinstate the
12,000 miners sacked for illegal striking.
Dec. 14 - Amplats says it loses 235,000 ounces of
production, worth $380 million at current prices, to illegal
strikes at several of its South African mines.
Jan. 15, 2013 - A day after warning of a full-year loss,
Amplats announces a restructuring including cutting output by
around a fifth or 400,000 ounces. It also says it will mothball
two mines, sell a third and cut 14,000 jobs.