South Africa sees economy shrink

Pretoria, 25 Feb-(ANA)-South Africa's economy has shrunk for the first time in 10 years, official figures have shown.

Gross domestic product (GDP) fell by 1.8% in the last three months of 2008 from the previous quarter.

It came as Lonmin, the world's third-biggest platinum producer, said it was cutting up to 5,500 jobs at two South African mines.

A worldwide commodities slump has seen dramatic falls in demand and prices of metals and other mined products.

UK-listed Lonmin said a deal to cut 4,000 jobs at the Marikana mine in North West province and 1,500 in Limpopo province had been agreed with unions.

It has been hit by tumbling demand from the car sector which uses platinum to manufacture catalytic converters. (ANA)

FA/ANA/25 February 2009---