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
- South Deep Gold Mine goldfields.co.za, 2013, retrieved 2013-06-18^
- South Africa Region www.goldfields.com, retrieved 2020-05-24^
- Mariaan Webb. Gold Fields and NUM sign formal agreement ending South Deep strike Mining Weekly, 18 December 2018^
- About 1,500 jobs to go at Gold Fields' South Deep as part of restructuring MINING.COM, 2018-08-14, retrieved 2020-05-24^