Gold Fields improves severance terms at South Deep in bid to end strike [Reuters]
Gold Fields Limited American Depositary Shares (GFI)
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goldfields.com/investors.php
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Source: Reuters
Gold Fields improves severance terms at South Deep in bid to end strike | Reuters 3 Min Read JOHANNESBURG (Reuters) - Gold Fields said on Wednesday it had offered union members striking at its South Deep mine in South Africa an increased severance package to try to resolve the dispute which has halted production. Gold Fields, which employs about 3,600 people in South Africa, said in August it would restructure its South Deep operations and would cut about 1,100 jobs, nearly a third of the workforce, to save money. In response, the National Union of Mineworkers (NUM) went on strike at the mine on Nov.2. South Deep, the company’s last South African asset, has lost money over the past five years and Goldfields has been working to mechanize operations in the face of challenging geology 3 kms (2 miles) below the surface. The company said its offer, which expires on Friday, included increasing severance payments by four weeks, or a total of as much as 45 million rand ($3 million), funding f
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GFI
Sec Filings
- 4/4/24 - Form 6-K
- 4/2/24 - Form 6-K
- 4/2/24 - Form 6-K
- GFI's page on the SEC website