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S.Africa mine unrest to lead to job losses

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JOHANNESBURG Nov 1 (Reuters) - South Africa's platinum industry is in "severe financial distress" and elevated wage settlements to get wild-cat strikers back to work will lead to job cuts, Anglo American Platinum chief executive Chris Griffith said on Thursday. Griffith also told Talk Radio 702 the world's largest platinum producer could not "negotiate in a climate of … [Read more...] about S.Africa mine unrest to lead to job losses

FACTBOX-Possible candidates to be Anglo’s new chief executive

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By Clara Ferreira-Marques LONDON Nov 1 (Reuters) - Mining group Anglo American is starting the search for a new chief executive to replace Cynthia Carroll and take on what analysts and investors say is one the toughest jobs in the resources sector. Headhunters at executive search firm Spencer Stuart - who have worked with Anglo on board appointments in the past - … [Read more...] about FACTBOX-Possible candidates to be Anglo’s new chief executive

ArcelorMittal S.Africa shuts furnaces, cuts output

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JOHANNESBURG Nov 1 (Reuters) - ArcelorMittal South Africa , a unit of the world's top steelmaker, said it had shut indefinitely three electric arc furnaces at its Vanderbijlpark plant in South Africa, reducing annual output by around 1 million tonnes. The steelmaker, Africa's biggest, was given until Oct. 16 to deal with emissions from the furnaces and decided it was … [Read more...] about ArcelorMittal S.Africa shuts furnaces, cuts output

S.Africa’s rand stuck in familiar range, 8.60/dollar holds

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JOHANNESBURG Nov 1 (Reuters) - South Africa's rand ended steady against the dollar on Thursday, trading within the week's range as rand bears took a breather and the market remained lethargic since the closing of Wall Street earlier in the week. The rand initally firmed to its best in the session soon after positive jobs numbers came out of the United States during late … [Read more...] about S.Africa’s rand stuck in familiar range, 8.60/dollar holds

UPDATE 3-One-in-four South Africans jobless, mine layoffs loom

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* More than one in four of labour force unemployed in Q3 * Number of jobless highest since survey started in 2008 * More than seven in 10 jobless are aged 15-34 * Layoffs in violence-hit mining to drive unemployment up By Xola Potelwa JOHANNESBURG, Nov 1 (Reuters) - South Africa's unemployment rate rose in the third quarter, with more than one in four … [Read more...] about UPDATE 3-One-in-four South Africans jobless, mine layoffs loom