File picture: Nadine Hutton
Johannesburg - AngloGold Ashanti on Wednesday began talks with unions to cut as many as 8 500 jobs at its South African mines and plans to halt some unprofitable operations.

The company intends to place its Kopanang mine and the Savuka section of the TauTona mine on care-and-maintenance.

In a statement, AngloGold spokesperson Stewart Bailey said: AngloGold is taking the steps to ensure the viability of our remaining operations”.

AngloGold’s South African mines made their first loss since 2012 in the first quarter of this year, as costs surged 44 percent and output slid. The company said in May it was reviewing operations in the country.

Read also:  AngloGold Ashanti plans to axe 800 staff 

“The restructuring of the company’s production and cost base is necessary to protect the overall viability of its South African business over the long-term, and to safeguard employment at viable business units in the West Wits and Vaal River regions,” Bailey said.

 BLOOMBERG