Petra mulls retrenchment of 150 workers at SA mine – Workers Union

Petra Diamonds is considering retrenching 150 jobs at its Koffiefontein mine in South Africa, according to media reports.
“The NUM Kimberley Region can confirm that it had received Section 189 notice of restructuring/retrenchments from the Koffiefontein Diamond Mine,” Miningmx quoted the National Union of Mineworkers (NUM) as saying.
“The company is reporting that approximately 150 jobs may or are impacted by this restructuring or retrenchment.”
Petra said last month that the Koffiefontein mine will reach the end of its life and available reserves by the 2025 financial year.
“Petra is considering its options to ensure a responsible exit while continuing to implement the outcomes of the BRE (business re-engineering) project aiming to curtail the negative cash flow impact on the group,” it said then.
Koffiefontein’s production decreased 38% to 22,371 carats in the first half of the fiscal year 2022 compared to 35,912 carats, a year earlier following tunnel depletion on 60L East, waste ingress, impacting the recovered grade, and drill rig availability during the period affected by the ageing fleet.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished