Cape Town, South Africa — 07 February 2013 – Incoming Anglo American CEO Mark Cutifani has slammed the South African government’s threat to review mining licences, which was made after Anglo American Platinum had revealed it would cut 14 000 job cuts
“The government’s threats to review mining licences are out of order,” incoming Anglo American CEO Mark Cutifani said, criticising comments made after the miner’s struggling platinum arm had made its announcement. “We shouldn’t be threatening licences when a company is looking at preserving its life,” he said, reports Fin24.
Anglo Platinum says its plan to mothball two mines and slash up to 14 000 jobs is crucial to restoring profits, after the company suffered its first loss last year.
The ANC has attacked the restructuring and said it justified a review of mining licences, and President Jacob Zuma said threatening mine closures was almost "blackmail."
Source: Fin24. For more information, click here.