IMPALA RULES OUT JOB CUTS AT ZIMPLATS

Written by on August 8, 2018

South African Platinum giant, Impala Platinum, which has a controlling stake in Zimplats is reportedly planning to slash about 13 000 jobs at its operations as part of its restructuring exercise.

However, there are no plans to cull its 5 942 workforce in Zimbabwe.

The restructuring which is estimated to cost the platinum about US$155 million will only affect its Rustenburg operations.

For the financial year ended June 30 2017, Impala Rustenburg brought in R14.6bn in revenue, but was also responsible for a R9.86bn loss.

Zimplats brought in R7bn in revenue and R576m in profit.

Impala Platinum controls 87 percent of Zimplats operation, which consists of four shallow mines and one open-pit operation.


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