News Summary: Anglo American Platinum Lost $715M

By The Associated Press

STRKING RESULTS: Anglo American Platinum Ltd., the world's largest producer of the metal, had an operating loss of $715 million in 2012 as violent labor unrest in South Africa paralyzed its operations for weeks.

SPIRALING DOWN? The loss follows a profit of more than $1 billion in 2011. The company says it might close some operations and lay off as many as 14,000 workers.

MOTHER LODES: The mining industry is a huge part of the economy in South Africa, which is the world's largest producer of platinum, gold and chromium.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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