AngloGold Ashanti to axe 2,000 jobs as it shrinks footprint in South Africa
The company’s remaining South African assets are the Mponeng underground gold mine, and a surface operation.
The company’s remaining South African assets are the Mponeng underground gold mine, and a surface operation.
Heavy equipment maker is also contemplating the closure of its engine manufacturing plant in Illinois.
Gold Fields Ltd.’s local unit to dismiss more than 2,000 staff as it starts the process of hiring a contractor to operate its biggest mine.
Deteriorating and inadequate infrastructure at the mine, high operating costs, such as rising electricity, labour costs, and a low gold price.
Namdeb, a 50/50 joint venture between the Namibian government and Anglo American’s diamond unit De Beers, has put its Elizabeth Bay Mine up for sale.
So far, repeal of the Clean Power Plan has not really equated with putting coal miners back to work, something Trump has pledged to do again and again.
Statistics come as the administration of President Donald Trump claims credit for new jobs in the coal industry.
Move seeks to ensure the sustainability of Namdeb land-based operations.
Canadian miner cited uncertainty over whether it will ever have its mining license for the operation reinstated as main reason for the layoffs.
South Africa's Solidarity union cites low commodity prices and rising costs as two main factors behind the job cuts.