AOL.com Video - S.Africa's Amplats to Shed Mines and Jobs

VIDEO:News

S.Africa's Amplats to Shed Mines and Jobs

Description:It's been 3 months since riots at Anglo American Platinum stopped production at mines in South Africa. The battles cost billions of dollars in lost revenue. And now the world's top platinum producer is closing four of its shafts and selling another. 14,000 jobs will go and output could be cut by a fifth - that's around 400,000 ounces. Some posts may be reinstated in the future but mining analyst Loane Sharp says the impact could be huge. (1:58)

Source: Reuters

Tags: reuters , cynthia carroll , Loane Sharp , Mark Cutifani