Rapaport News



Rapaport Broadcast
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

Advanced search
Latest Articles
Rough Markets
Polished Markets

Petra Strikes Spread to Koffiefontein Mine

Industrial action now affecting three of miner’s four South African assets.
Sep 24, 2017 5:55 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

 Workers are striking at Petra Diamonds’ Koffiefontein mine in South Africa, adding to industrial action already taking place at two of the company’s other projects in the country.

South Africa’s National Union of Mineworkers informed the rough producer of the intention to strike from last Friday, Petra said Thursday.

The miner is in the process of finalizing a new wage agreement for its operations in South Africa, and had warned investors earlier this month that there might be labor disruptions as a result of the negotiations.

Strikes are also affecting underground mining at Petra’s Finsch and Kimberley operations, though plant treatment is continuing at close to normal capacity at both places, the company explained. Operations at Petra’s other South African mine, Cullinan, have escaped any impact, and production is taking place as normal.

Petra also closed its Williamson mine in Tanzania for four days this month after national authorities seized a parcel of diamonds from the deposit over a reported valuation dispute. The company’s ability to export goods from the mine in future is unclear, it said last week.
Tags: Cullinan, Finsch, industrial action, kimberley, Koffiefontein, mining, National Union of Mineworkers, petra, Rapaport News, South Africa, strikes, tanzania, Williamson
Similar Articles
AlrosaNew Alrosa Mine Yields 17ct. Yellow
Feb 23, 2020
Alrosa has recovered a 17.44-carat, bright-yellow, gem-quality diamond at its Verkhne-Munskoye...
De Beers Optimistic After 2019 Earnings Slump
Rio Tinto’s Canada Deal Hits Trouble
Lucapa Closing In On Diamond Source
PetraChallenging Market Weighs on Petra
Feb 17, 2020
Shares in Petra Diamonds slipped 16% in early trading Monday after...
Angola’s Annual Rough Revenue Rises
Gem Diamonds Sees Sales Decline in 2019
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us