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Mining firm, Goldfields Ghana is to lay off about 😱1,500 of its workers.
The retrenchment is expected to affect most of its miners at the Tarkwa mine. The layoffs will take effect this month December 2017.
Goldfields informs that it had to undertake the layoffs due to the current lifespan of the mine which stands at between 5⃣ and 6⃣ years, and cannot purchase a new fleet because of the short payback period.
This is the second time in 3⃣ years that the mining firm has embarked on such a massive retrenchment exercise. In 2014 it laid off about 400 of its workforce over similar concerns.
Goldfields Ghana’s Vice President👔 and Head of Corporate Affairs Mr. David Johnson, confirming the retrenchment exercise explained that the company has changed its mining model at the mine from owner mining operations to contractor operations because it will operate at a 👎loss if it goes on with its previous model.
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