[miningmx.com] – SOUTH Africa’s mines ministry asked Anglo American to explain the impact of its restructuring plans on jobs and how the layoffs could be avoided, said Reuters citing a statement from the governmental department.
“The Department is thus awaiting a detailed presentation from the company in this regard, which should include the impact on jobs and measures to save them, transformation as well as other national imperatives,” the ministry said.
Anglo had earlier outlined plans to cut its asset base by 60% in an effort to protect its balance sheet amid a heavy deterioration in metal prices this year.
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