Arab Today, arab today amplats cuts loss in 2013 faces new strike
Last Updated : GMT 03:35:24
Arab Today, arab today
Arab Today, arab today

Amplats cuts loss in 2013, faces new strike

Arab Today, arab today

Arab Today, arab today Amplats cuts loss in 2013, faces new strike

Johannesburg - AFP

South African mining group Anglo American (Amplats), the world's biggest platinum miner, reported on Monday a sharply reduced net loss for 2013 after long strikes hit results hard in 2012. The company, now embroiled in a new strike, reported a loss of 568 million rand ($51.2 million) from a loss of 6.4 billion rand in 2012. The business, which is 80-percent owned by British-South African group Anglo American, said that on a comparable basis excluding unusual charges, it made a net profit of 1.451 billion rand from a loss of 1.5 billion rand. The unusual factors excluded in that calculation were charges for restructuring and depreciation, and increases in taxation. The group switched into an operating profit of 1.968 billion rand from a loss of 6.334 billion rand. Sales rose by 22.0 percent to 52.4 billion rand ($4.73 billion), boosted by an increase in the volume of production and by the fall of the rand against the dollar. In 2012, production in South Africa was severely disrupted by a strike which lasted for eight weeks. Since January 23 this year, the company is again being affected by a strike in demand for a big wage increase by the radical trade union Amcu. The strike is also hitting competitor companies Impala Platinum (Implats) and Lonmin. Talks to find a solution to this strike are to resume on Tuesday. On Monday, workers at refineries and foundries operated by the company in South Africa also went on strike. Restructuring in 2013 involved the departure of 7,450 people during the year, Amplats said. Last year, the company had envisaged reducing its workforce by 14,000 people, or nearly a quarter of its total number of employees, but had to revise this downwards under opposition from the government and trades unions. The company commented in its results statement that it "implemented a major restructuring in 2013, creating a difficult environment for many Anglo American Platinum employees and resulting in a challenging year for labour relations." It also said that in 2013 "gross global platinum demand increased by 6.0 percent, as a 14-percent increase in industrial demand and a 102-percent increase in investment demand more than offset the five-percent decline in autocatalyst demand and the one-percent decline in jewellery demand during the year."

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 amplats cuts loss in 2013 faces new strike Arab Today, arab today amplats cuts loss in 2013 faces new strike

 



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 amplats cuts loss in 2013 faces new strike Arab Today, arab today amplats cuts loss in 2013 faces new strike

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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