Amplats, formally known as Anglo American Platinum, is the world’s largest primary producer of platinum, accounting for about 38% of the world’s annual supply. It was founded in 1995 and is headquartered in South Africa.
According to reports, Amplats has laid off 3,700 employees as part of a restructuring initiative aimed at cutting costs due to a significant decline in platinum group metal (PGM) prices, which has led to a decline in profits.
The report further mentions that Amplats is being spun off from Anglo American and, as a result, will become a standalone company and become an independent global leader in the PGM industry.
