Anglo American’s platinum arm to cut 3,700 jobs as metal’s price dives

Johannesburg-based Amplats says one-in-five jobs will be cut in South Africa amid plunge in profits

The platinum arm of Anglo American is to cut 3,700 jobs in South Africa as the British mining company attempts to improve performance in the troubled division.

Anglo American Platinum (Amplats) said on Monday it aimed to cut jobs after a sharp drop in platinum metal prices, which had led to a collapse in profits last year.