{"id":11391,"date":"2012-06-12T23:09:45","date_gmt":"2012-06-12T21:09:45","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-eastern-platinum-may-cut-jobs-at-s-africa-mine\/"},"modified":"2012-06-12T23:09:45","modified_gmt":"2012-06-12T21:09:45","slug":"update-1-eastern-platinum-may-cut-jobs-at-s-africa-mine","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-eastern-platinum-may-cut-jobs-at-s-africa-mine\/","title":{"rendered":"UPDATE 1-Eastern Platinum may cut jobs at S.Africa mine"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">June 12<\/span> (Reuters) &#8211; Eastern Platinum Ltd could cut<br \/>\njobs at its Crocodile River Mine in South Africa as costs rise<br \/>\nand platinum prices fall.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The management of Crocodile River Mine will consult with<br \/>\npotentially affected employees to review the need for a possible<br \/>\nrestructuring, Eastern Platinum said.<\/p>\n<p><span><\/span><\/p>\n<p>The company, which last month stopped funding its Mareesburg<br \/>\nmine and Kennedy&#8217;s Vale concentrator plant in South Africa, also<br \/>\nended a $100 million financing package to develop the Mareesburg<br \/>\nmine.<\/p>\n<p><span><\/span><\/p>\n<p>Spot platinum prices have fallen 12 percent in the<br \/>\nlast four months to $1,436.28 an ounce, as demand for the metal<br \/>\nused to build emissions-cutting catalytic converters in<br \/>\nautomobiles, has remained weak.<\/p>\n<p><span><\/span><\/p>\n<p>Falling prices have also forced Aquarius Platinum Ltd<br \/>\n, the world&#8217;s fourth-largest platinum producer, to say on<br \/>\nMonday that it will suspend operations at its Marikana joint<br \/>\nventure in South Africa.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of Eastern Platinum, which reported losses for the<br \/>\nlast two quarters, have more than halved in value this year. The<br \/>\nstock was flat at 24 Canadian cents on the Toronto Stock<br \/>\nExchange on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 12 (Reuters) &#8211; Eastern Platinum Ltd could cut jobs at its Crocodile River Mine in South Africa as costs rise and platinum prices fall. The management of Crocodile River Mine will consult with potentially affected employees to review the need for a possible restructuring, Eastern Platinum said. The company, which last month stopped funding [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11391","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11391"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11391\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}