By Siyabonga Ntshingila ;

Despite the increase in the price of platinum, rising costs and a need for more efiiciency, Angloplatinum has in the last 19 months since July 2008 slashed its workforce by 23%. Thistranslates to 15 752 job losses including 724 cut at its head office and regional offices.

The company has also restructured its two biggest operations Amandelbut and Rustenburg into what it feels are more efficient units of two and five mines each. The cutbacks were far in excess of the 10,000 it had initially estimated. Calling the process “a difficult time for all”, the company stressed it was “ a requisite part of our rationalisation” and added that nit used the past year to reposition the company.

The cuts allowed the group to keep its cash costs to within its target range of R11,000/0z and experience cost increases of just 1percent to R11, 326/oz in the past year while mining productivity per employee improved by 13percent year on year.

It also noted the “professional compassionate manner” in which this was carried out and was “pleased to announce that we did not experience any industrial action nor have any forced retrenchments.” This while its platinum production climbed up 3 percent while its sales of refined platinum shot up 16percent.