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Nkomati Nickel Mine Closure Could Cost Thousands of Jobs - Motsepe’s

Mining News - Published on Fri, 12 Jul 2019

Image Source: The Citizen
Mining magnate Patrice Motsepe’s recent announcement that the Nkomati Nickel Mine on the R541 between Badplaas and Barberton is set to close will leave thousands of workers on the unemployment line. The company sent a letter to its employees on July 1, informing them that the struggling mine recorded an unprecedented R186 million loss at the beginning of this year. Its owners at African Rainbow Mineral and Norilsk have suffered severe losses as a result of steadily dropping nickel prices. The mine was unable to sell all the metal produced from June to December last year. The dropping prices resulted in a negative market-to-market adjustment in the region of R158 million.

Mineworkers received letters signed by the general manager, Mr David Malunga, informing them of imminent job losses last week. An excerpt from the letter reads, “Nkomati mine has, over the past few years, experienced significant operational and economic challenges which management, together with employees and contractors, have worked hard to manage and address.

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Posted By : Sanju Moirangthem on Fri, 12 Jul 2019
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