The South Deep mine is one of the largest gold mines in the South Africa and in the world.[1] The mine is located in the north-east of the country in Gauteng.[1] The mine has estimated reserves of 81.4 million oz of gold.[1]
Environment, Social & Corporate Governance
South Deep Mine has experienced a challenging period over recent years with various steps taken to revise its cost base in order to reduce losses[2] (of approximately US$292m over a five-year period[3]). In August 2019 a material restructuring of the mine was announced with the primary aim being to reduce costs by way of cutting 1,100 employees and 460 contractors.[4]
In response to the retrenchment announcements, the National Union of Mineworkers branch at South Deep started strike action. The strike lasted for 45 days from 2 November 2018 and was ended following a settlement agreement between Gold Fields and the National Union of Mineworkers.
References
- ^ a b c "South Deep Gold Mine". goldfields.co.za. 2013. Retrieved 2013-06-18.
- ^ "South Africa Region | Operations | Gold Fields". www.goldfields.com. Retrieved 2020-05-24.
- ^ Webb, Mariaan (18 December 2018). "Gold Fields and NUM sign formal agreement ending South Deep strike". Mining Weekly.
- ^ "About 1,500 jobs to go at Gold Fields' South Deep as part of restructuring". MINING.COM. 2018-08-14. Retrieved 2020-05-24.
