January 15, 2013 / 6:16 AM / 5 years ago

S.Africa's Amplats to close four shafts, sell Union

JOHANNESBURG, Jan 15 (Reuters) - Anglo American Platinum said it will indefinitely close four of its shafts in South Africa's platinum belt and sell its Union mine, as part of a sweeping reorganisation of its struggling business.

The company also said in a strategic review of its business released on Tuesday that the reshuffle will lead to 14,000 job cuts, which it hopes to eventually replace with a similar number of new positions.

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