Impala Platinum Holdings Ltd. (Implats), second largest producer of platinum in the world, is having a difficult choice, trying to reduce losses that it suffers due to decline in metal's prices, Bloomberg reports.

Company already fired 2500 workers during last year, and it seems that workforce reduction is not over yet. The situation is getting worse: platinum price lost 9% and fell to nine-year low last week.

As a result of strategic review that is conducted now, company may close some shafts earlier than was planned, since given the current price level it will be impossible to keep the same production volumes.

Implats is not the only company hurt in this situation, about half of world production is not profitable. Leading producer Anglo American Platinum Ltd. is in a little bit better situation, since it got rid of high valued assets earlier.

Platinum prices fell more than twice since peak values of 2011. It happend due to reduction in demand for the metal that is usually used to limit pollution from diesel cars. It partially happened due to lower sales of cars in Europe. Price decline continues this year due to escalating trade tensions.

Shares of Implats lost this year 35% already.