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South Deep mine
Gold mine in Gauteng, South Africa From Wikipedia, the free encyclopedia
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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]
 | This article is missing information about geology, history. (May 2017) |
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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.
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References
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