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South Deep: Saving jobs and securing the future

The cost of the South Deep strike
Time now:
  Earnings loss
to Employees
Revenue loss
to South Deep
Total losses R1 R2
Per minute R1,952 R6,642
Footnote 1: This shows the total wages lost since the beginning of the strike at 17h00 on 2 November 2018. (Based on pre-retrenchment October salary run)
Footnote 2: This shows revenue lost for South Deep based on average daily production of 535 oz (Q1 - Q3 2018) at an average US$1,200/oz gold price and an exchange rate of R14/US$

HOW DID WE GET HERE

OUR PLAN

Gold Fields has a plan which will allow us to stabilise South Deep, and to save 3,500 jobs. If we do not implement the plan, South Deep will continue to lose money and the future of the mine will be at risk.

WE NEED TO REDUCE COSTS
  • Reduce mining areas

  • Lower overhead costs

  • Use fewer machines more productively


RETRENCHMENTS

Fewer people are needed to work at the mine. We followed the Section 189 consultation process as per the Labour Relations Act and retrenched around 1100 employees and 400 contractors.


IMPACTS AND ENGAGEMENTS

The retrenchments have impacted around 1,500 people. However, these steps are intended to protect around 3,500 jobs which will remain.


SUPPORT FOR EMPLOYEES

Retrenched employees have received the following support:

  • Retrenchment packages

  • Financial advice

  • Skills training


SUPPORT FOR COMMUNITIES

Gold Fields remains committed to our communities – we will continue to invest in our social programmes and projects.


 

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