December 17, 2017

Strike begins at Petra Diamonds Koffiefontein mine in South Africa

Petra Diamonds confirms that it has received a notice from the National Union of Mineworkers (NUM) regarding a strike beginning from friday, 22 September from the labour union’s members at Koffiefontein mine.

According to the union’s press release, the aim of the strike is to compel Petra Diamonds and its management to accede to improve wages.

NUM members’  demand a 10% wage increase across the board to be paid every month for three years, in addition to a housing subsidy of $110 to be paid every month for three years.

Petra Diamonds is also experiencing labour disruptions at its Finsch and Kimberley Ekapa Mining JV operations.

While underground mining has been affected, plant treatment is continuing at near normal capacity at both operations, treating surface material and available stockpiles, to ensure the least possible impact on group production.

The Cullinan mine has not been impacted by labour disruption and production continues there as normal.

Petra Diamonds remains in ongoing discussions with NUM in order to resolve the situation and it will update the market as soon as is appropriate with further clarity on the potential impact of the disruption to the group.

Petra Diamonds is currently assessing the impact on both the Finsch and Kimberley Ekapa Mining JV operations.

Although underground and surface mining have been affected, plant treatment is continuing at near normal capacity at both operations treating surface material and available stockpiles.

The company is in ongoing discussions with the National Union of Mineworkers in order to resolve the situation and is closely managing the situation to ensure the least possible impact on group production.

These disruptions have happened on the back of a parcel of diamonds from the company’s Williamson mine in Tanzania been blocked from export to its marketing office.

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