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Ghana mine union threatens strikes over Gold Fields' planned job cuts

Published 03/09/2018, 11:25 AM
© Reuters.  Ghana mine union threatens strikes over Gold Fields' planned job cuts
GFI
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  • Ghana’s largest mineworkers union plans protests and strikes throughout operations if the government allows Gold Fields (GFI -0.6%) to dismiss more than 2K employees.
  • The miner is committing “acts of corporate greed aimed at amassing huge profits at the expense of Ghanaian mine workers,” says the head of the 16K-member union.
  • GFI said in December that a contractor would take charge of its 550K oz./year Tarkwa operations this year as the deposit’s remaining lifespan of 5-6 years is too short to replace aging mine equipment.
  • Ghana is Africa's second biggest gold producer after South Africa and accounted for a third of GFI’s revenue in 2016.
  • Now read: Gold Fields Limited 2017 Q4 - Results - Earnings Call Slides


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