South Deep mine

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]

South Deep mine
Location
South Deep mine
Location in South Africa
Gauteng
CountrySouth Africa
Coordinates26°25′S 27°40′E
Production
ProductsGold
Owner
CompanyGold Fields

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.

gollark: Oh? I thought it was good.
gollark: Well, you partly were, but whatever.
gollark: Especially since we don't *want* attack.
gollark: And it ***IS*** flawed. Why? Because it makes defense harder than attack.
gollark: Don't just say "It's good because it's been around for ages".

References
  1. "South Deep Gold Mine". goldfields.co.za. 2013. Retrieved 2013-06-18.
  2. "South Africa Region | Operations | Gold Fields". www.goldfields.com. Retrieved 2020-05-24.
  3. Webb, Mariaan (18 December 2018). "Gold Fields and NUM sign formal agreement ending South Deep strike". Mining Weekly.
  4. "About 1,500 jobs to go at Gold Fields' South Deep as part of restructuring". MINING.COM. 2018-08-14. Retrieved 2020-05-24.
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