• Healthcare headache

    State healthcare strategies must be more than political posturing, says Mzwandile Jacks.

  • Buzzwords and truths

    Mandi Smallhorne discusses her beef with the terms 'savings' and 'entrepreneurship'.

  • No love lost for SA

    A new biography shows why Elon Musk has little affection for the brutal land where he grew up.

Loading...
See More

Beatrix West mine may face job cuts

Apr 02 2013 11:31
Reuters
Johannesburg - Sibanye Gold said on Tuesday it has started talks that may lead to job cuts at its Beatrix West Section operation in South Africa after an underground fire hit output and revenue.

The company, a spin-off of South African's Gold Fields  that listed in February, said the underground fire had cost it 61kilograms, or R28m ($3.05 million), per month in lost production and the damaged area would be inaccessible until at least the middle of next year.

"We are looking at ways to minimize the losses and depending on the discussions with the government and unions there may be lay-offs," spokesman James Wellsted said.

The company has not said how many jobs may be at stake. The west section accounts for about a quarter of the output at Beatrix or 6% of total group production.

The fire broke out on February 19 and the company said it had "also prevented critical ore reserve development from taking place thus impacting on the sustainability of the Beatrix West Section, and hence the long-term future of the operation."

The prospect of job cuts may be a hard sell in the current labour and political environment in South Africa after more than 50 people were killed last year in violence triggered by a wave of illegal strikes in the sector.

Sibanye also operates the KDC mine in South Africa's Northwest province that produces about 1.1 million ounces of gold per year.  

($1 = R9.1830)


   

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

sibanye gold  |  job cuts  |  mining industry

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Eskom’s decision not to give its staff bonuses is:

Previous results · Suggest a vote

Loading...