From The Guardian

Platinum producer Lonmin aims to cut about 5,700 jobs, 21 percent of its South African workforce, as part of a drive to increase profits after a five-month wage strike this year. The plan would see the closure of four to six of the company’s 11 shafts, two mining industry sources, one in London and the other in Johannesburg, told Reuters.

Lonmin spokeswoman Sue Vey said she had no knowledge of the plan.

The company, the world’s third-largest producer of the precious metal used for emissions-capping catalytic converters, said in June that the strike and low prices meant restructuring of the business had become inevitable.

Job cuts could trigger more labor unrest, including strikes by the Association of Mineworkers and Construction Union (AMCU).

“There will be six shafts closed and 5,700 jobs will go. That is the plan,” the Johannesburg source, who declined to be identified, said. Lonmin has a staff of about 27,000.

Read more at The Guardian