CQT 0.00% 51.5¢ conquest mining limited

more trouble for gold fields at home

  1. 1,449 Posts.
    report from BBC news business

    Come on over to Aus......


    South Africa's biggest mining union has threatened to strike if any of its members lose their jobs as a result of the country's electricity shortage.
    It comes after mining giant Gold Fields said it was scaling back production.

    Gold Fields warned it might have to shed thousands of jobs because of the 10% power cut imposed by the national electricity company, Eskom.

    The National Union of Mineworkers wants Eskom to show greater flexibility in allocating scarce power.

    South Africa is one of the world's biggest gold producers.

    Union chief Lesiba Seshoka said he had also urged the mining companies to persuade the government and Eskom to take into account the jobs at stake and the economic contribution made by the companies suffering the cuts.

    The BBC's Mpho Lakaje in Johannesburg says Gold Fields' proposed cuts would eliminate an estimated 13% of its work force - 6,900 jobs.

    The company is Africa's second biggest gold producer.

    South Africa's mines were forced to suspend production for five days in January as power cuts raised fears that miners could get trapped underground.

    Since then, mining companies have been operating with 10% less electricity than they would normally use.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.