PLATINUM 0.72% $840.00 platinum futures

Thanks Hammo,As I understand it, PLA used to own Panton and...

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    Thanks Hammo,

    As I understand it, PLA used to own Panton and divested it to PAN to get cash for PLA's ailing South African operations. Eventually PLA had to call in the administrators, and later Jubilee came on the scene as a suitor. Not sure to what extent PLA's financial difficulties were due to industrial relations issues.

    Others are also struggling. Amplats was hit by high costs, a spate of wildcat strikes and a fall in the price of platinum. They were going to cut 14,000 jobs in South Africa and cut production, but were "persuaded" to reduce the sackings to 6,000 jobs, and maybe even less than that. It remains to be seen if that will be enough pruning.

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