FTSE 100-listed mining giant Anglo American yesterday reported earnings of $287m (£176m) for its South African platinum subsidiary Anglo American Platinum (Amplats) in 2013, as labour tensions show no signs of abating in the country. This compares to a loss of $225m (£138m) the previous year. Amplats is one of the three largest platinum miners in South Africa , which produce over half of the world's platinum output. It posted headline earnings of $152m in 2013, compared to a loss of $170m in 2012. But a fresh strike on 23 January from the militant Association of Mineworkers and Construction Union , which represents the majority of Amplats' workers, has hindered production and threaten to push the company back into the red. Anglo is slashing 14,000 jobs at Amplats as part of the restructuring of its subsidiary. "While we view the results as a good turnaround from last year's loss, we believe the market is looking for substantial improvements in 2014 and beyond as the 2013 restructuring efforts start to pay off," said broker Investec. Shares fell 2.72 per cent.
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