Newmont Ghana, a subsidiary of US-based Newmont Mining Corp. has revealed plans to cut up to 600 jobs in its two operating mines by the end June, due to ageing facility and slumping gold prices.
The planned cuts, mostly at Ahafo mine, became necessary to help readjust expenditures to the ageing milling rate, ensuring the continuity of its operation in Africa’s second largest gold producing country, explained Adiki Ayitevie Newmont’s external affairs director
Hauling distances have increased, taxing equipment and fuel needs. Equipment in general have aged and requires larger sums of sustaining capital replacement. All these changes burden our cost position at Ahafo, Regional Senior Vice President of Africa Region, Dave Schummer as said in a memo released to the company staffs.
“At present, we anticipate that approximately 500-600 employees will be impacted by the changes underway, including national management employees, senior and junior staff as well as expatriates… We are currently working to complete a memorandum of understanding with the Ghana Mine Workers Union to define the contractual elements to pay to our impacted employees as is covered under our Collective Bargaining Agreement,” Schummer said.
Chosen excerpts by Job Market Monitor. Read the whole story at Ventures Africa | 600 Job Cuts Expected At Newmont Ghana Mines.
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