Anglo poised to offload stake in platinum unit as strike deal looms Anglo owns 77.3pc of Anglo American Platinum, known as Amplats, which posted a £33m loss in the first half of the year. A slump in platinum prices has combined with rising labour and power costs to push many mines in the country into the red. Anglo shareholders want action taken over the unit, which is seen as a drag on the company's share price. The division at present operates 10 mines and produces 40pc of the world's platinum. The news came the day after Cynthia Carroll, Anglo's chief executive, announced her departure from the miner following significant shareholder pressure for a change at the top. The South African mining industry has also been hit by a series of unofficial strikes this year, mainly in the platinum sector. At the peak of the trouble about 80,000 workers were taking industrial action, some 16pc of the industry workforce. This, coupled with calls from some sections of the ruling African National Congress (ANC) to nationalise the industry, has hit South Africa's reputation as a place for foreign investment. However, it appears that a deal on the industrial issues has been reached that could see striking Amplats workers return to work in the next few days. Today, a spokesman for the powerful National Union of Mineworkers (NUM) said a deal had been reached for Amplats to reinstate 12,000 workers, with a deadline of October 30 for them to return to work. "They [Amplats] agreed to reinstate all the dismissed workers on the provision that they return to work by Tuesday," Lesiba Seshoka, an NUM spokesman said. That will mean the end of the strike. However, it appears that wage increases are not part of the deal after Mpumi Sithole, an Amplats representative, said the miners" terms of employment would not be changed. The situation remains volatile and there were demonstrations yesterday which resulted in police using tear gas and rubber bullets. The police action was sparked by clashes between rival union members. Strikers wearing black T-shirts, which are used by the Association of Mineworkers and Construction Union (AMCU) came armed with sticks and stones to block a rally by the Congress of South Africa Trade Unions (COSATU).