JOHANNESBURG, May 16 (Reuters) – Miners at South Africa’s
Anglo American Platinum will down tools late Thursday
or Friday, labour leaders said, in an escalation of unrest that
sent the company’s shares lower and the rand to a four-year low.

The threatened action is to protest Amplats’ plans to cut as
many as 6,000 jobs in a bid to return to profit, down from the
14,000 it initially proposed, and come just as a two-day wildcat
strike ends at platinum producer Lonmin.

JOHANNESBURG, May 16 (Reuters) – Miners at South Africa’s
Anglo American Platinum will strike from Thursday
evening over proposed job cuts, a union official said, driving
its shares lower and sending the rand to a four-year low.

“The night shift today is not going underground, and also
the day shift tomorrow is not going to work,” said the branch
official of the AMCU union, who did not want to be identified.
He could not say how long the action might last.

JOHANNESBURG (Reuters) – Miners at South Africa’s Anglo American Platinum operations will stop work from Thursday evening over proposed job cuts, an official for mineworkers union AMCU said, sending the company’s shares and rand sharply lower.

“The night shift today is not going underground and also the day shift tomorrow is not going to work,” the branch official, who did not want to be identified, said. He could not say how long the stoppage might last.

RUSTENBURG, South Africa, May 10 (Reuters) – Anglo American
Platinum said on Friday it would cut 6,000 South
African mining jobs, fewer than half the 14,000 initially
proposed, as it strives to restore profits without triggering a
backlash from the government and restive unions.

The world’s top platinum producer, a unit of Anglo American
, added in an announcement it would also keep open one of
four shafts slated for closure near the platinum belt city of
Rustenburg.

RUSTENBURG, South Africa (Reuters) – South African labor activists promised on Friday to fight any job cuts by Anglo American Platinum (AMSJ.J: Quote, Profile, Research, Stock Buzz), which is expected to unveil a new plan on restoring profits later in the day after the original provoked a backlash from the government and unions.

Amplats, a unit of London-based Anglo American (AAL.L: Quote, Profile, Research, Stock Buzz) and the world’s top platinum producer, had initially envisaged slashing 14,000 jobs and mothballing two mines. Industry sources have told Reuters the final plan, produced after months of tough talks with the government, would demand as few as 5,000 redundancies.

JOHANNESBURG (Reuters) – It took Kenyan lender KCB Group (KCB.NR: Quote, Profile, Research, Stock Buzz) less than a year to break even after opening in tiny Burundi, a country better known for explosive violence than explosive growth.

KCB’s success highlighted the hunger for financial services that the biggest local banks are turning regional to tap.

JOHANNESBURG (Reuters) – MTN Group (MTNJ.J: Quote, Profile, Research, Stock Buzz), Africa’s largest listed firm, could spend up to $8 billion on an acquisition and is looking for targets on the continent, the Middle East and Southeast Asia, its chief executive said on Wednesday.

The South African mobile operator is also one of around 15 telecom providers to make it to a second stage of bidding for an operating license in Myanmar, Sifiso Dabengwa also told the Reuters Africa Investment Summit.

JOHANNESBURG (Reuters) – Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz) is looking at a number of banks in east and west Africa for a potential investment, its Africa co-head said on Wednesday, as the U.S. private equity firm focuses on the continent’s growing consumer market.

Carlyle, which last year invested in a pan-African grain trading firm, has recently signed a second deal, Marlon Chigwende also told the Reuters Africa Investment Summit.

JOHANNESBURG (Reuters) – Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz) has opened two new branches in South Africa to target Cape Town and Durban-based companies looking to expand across the continent, its chief executive for Africa said on Tuesday.

The London-listed bank saw 28 percent growth in its South African business last year and is now looking to court local retailers, many of which are based in Cape Town, and trading houses operating in Durban, Diana Layfield told the Reuters Africa Investment Summit.

JOHANNESBURG, March 7 (Reuters) – Jacko Maree, the chief
executive of South Africa’s Standard Bank, retired on
Thursday after 13 years at the helm of Africa’s biggest lender.

Standard Bank said the 57-year-old Maree, one of the most
respected figures in South African financial circles, would be
replaced jointly by Sim Tshabalala, the head of its South
African operations, and Ben Kruger, who runs its investment
banking division.