De Beers Gives formal Notice to SA Mine Workers
August 02, 05
De Beers gave formal notice to its mine workers at Kimberley’s underground operations. The 134 year-old mine has been operating at a loss for a couple of years and its closure has been considered for some time.
De Beers said yesterday (Monday) it would “begin the consultation process with employees and employee representative bodies at its underground operations in Kimberley.”
Five of the company’s seven diamond mines in South Africa are losing money, partially due to the high rand / dollar exchange rate.