Hundreds of South African Diamond Mining Job Losses Feared Due to De Beers Downturn
February 18, 16
(IDEX Online News) – Fears are increasing in the South African diamond mining sector that hundreds of workers could be laid off as a result of De Beers’ 2015 slump in revenue, according to a report on allafrica.com.
The company is expected to cut 152 workers from its Venetia Mine in Limpopo, and a further 214 posts from some of its other South African mines.
De Beers’ parent company Anglo American saw the continuing rout of other commodities such as iron ore and aluminum led to a catastrophic $5.6 billion loss in 2015. Anglo American revealed plans in December to shrink its global workforce from 135,000 to 50,000 by 2017.
South Africa’s Independent Online newspaper reported that the country’s National Union of Mineworkers (NUM) would fight the retrenchment, even going so far as to allege that the decision was based on racism, as all the proposed job cuts will affect black mineworkers.