Cape Town - Persistent labour unrest in South Africa is
making it difficult for Anglo Platinum [JSE:AMS] to ask investors for
additional investment, its chief executive told a parliamentary committee
looking at the platinum crisis in the country on Wednesday.
Workers at Amplats, majority owned by mining giant Anglo
American [JSE:AGL], staged a one-day walk-out on Tuesday after union violence
at one of its mine in South Africa.
"If we keep having all these stoppages, if we keep
having all these difficulties and we keep sending these difficult messages from
South Africa ... we are going to find it very difficult to ask for that money
that we want to put in to maintaining our presence in South Africa," Chief
Executive Chris Griffith said.
Tuesday's walk-out at the firm added to tension at the
world's largest producer of the precious metal, which was looking to shed about
14 000 jobs after a year of labour strife
cut into its production and revenue.
The company was in talks with government and labour unions
on the planned job cuts but Griffith said he was "not confident at
all" that the negotiations would prevent the job losses.
Amplats this month reported its first annual loss, battered
by six weeks of violent strikes, soaring costs and flagging platinum prices.
More than 50 people were killed in labour strife last year,
including 34 shot dead by police at Lonmin's Marikana mine in August.
The ANC has tried to reassure investors the unrest is not
hurting the country, which had its sovereign credit rating downgraded by Fitch
last month due in part to the labour problems.
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