JOHANNESBURG (AP) - Anglo American Platinum Ltd., the world's largest producer of the metal, announced Monday it suffered an operating loss of $715 million in 2012 as violent labor unrest in South Africa paralyzed its operations for weeks.
The loss by the company, majority owned by minerals giant Anglo American PLC, comes after a 2011 profit of more than $1 billion, highlighting the dire financial situation the producer now faces. The company has announced plans to possibly close some of its operations and lay off as many as 14,000 workers, sparking worries about a downturn in an industry that's one of the main economic drivers in Africa's top economy.