Arab Today, arab today anglo ceo south africa mine threats unacceptable
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Anglo CEO: South Africa mine threats unacceptable

Arab Today, arab today

Arab Today, arab today Anglo CEO: South Africa mine threats unacceptable

Cape Town - AFP

The South African government\'s threat to review mining licences of firms planning job cuts are unacceptable and risk thwarting investment, Anglo American\'s incoming chief executive warned Thursday. Mark Cutifani said threats to the mining giant\'s operating license, made by the minister of mines after Anglo announced 14,000 job cuts were \"out of order.\" \"I hope after the hue and cry from investors all around the world... we\'ve all learned the lesson that we shouldn\'t be threatening licences.\" The outgoing AngloGold Ashanti chief insisted that strike-hit mining companies were trying to stay alive and make sure they have \"an operation that will last.\" Anglo\'s platinum division, known as Amplats, announced the cuts last month amid plans to close four shafts and sell one mine. This week it posted a nearly 1.5 billion rand ($165 million, 121 million euro) net loss for 2012 when unrest flared across the industry and killed more than 50 people. The \"South African mining industry is flat,\" said Cutifani, saying the Johannesburg Stock Exchange All Share Index was up 60 percent since 2007. \"The country that has defined the largest economic resource in the world, in terms of the mining industry, has actually declined 30 percent in real terms in the last six years. That\'s not good enough.\" Cutifani will take over the reins at Anglo in April. Speaking also as president of South Africa\'s industry body Chamber of Mines, he said the parties had started a constructive dialogue and \"carefully crafted\" words were needed. \"We do have some challenges and I think the most difficult issue is at the moment the industry and the government is shouting at each other from our respective corners,\" he said. \"I think we have to put our differences aside and understand that they are there, to acknowledge those differences and start talking and engaging in a way that will change the industry and the country together for good.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today anglo ceo south africa mine threats unacceptable Arab Today, arab today anglo ceo south africa mine threats unacceptable

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today anglo ceo south africa mine threats unacceptable Arab Today, arab today anglo ceo south africa mine threats unacceptable

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday