Violence erupted again at South Africa’s platinum mining operations. Clashes between rival unions at Anglo American Platinum’s (Amplats) Rustenburg operations in South Africa left 13 injured while causing a spike in global platinum prices. The fighting at Amplats’ Siphumelele mine will impact most of Rustenburg, according to Anglo officials, while triggering investor fears in the country with the world’s largest platinum reserves.
After six weeks of deadly unrest last year along with soaring costs and slackening platinum demand, Amplats reported its first annual loss in January. The company, 80% Anglo American-owned, recently threatened to eliminate 14,000 jobs. Anglo is the world’s leading platinum producer, accounting for 40% of newly mined platinum.
