Buffalo hands over Dundee mining operations
JOHANNESBURG (miningweekly.com) – Dual-listed Buffalo Coal has kicked off the planned restructuring activities at its Dundee operations as its extended consultation period with organised labour and relevant stakeholders come to an end on Saturday.
Few employees would, however, be made redundant, as STA Coal Mining, which would start mining four sections at the group’s underground mine at a fixed contract mining fee per ton, would employ the majority of the employees that were being retrenched.
STA, which was currently mining two sections at the Magdalena mine under an existing contract mining agreement, inked the new three-year contract mining agreement with Zinoju Coal and Buffalo Coal Dundee earlier this year, with mining activities to start on October 31.
The agreement had the option for a further two-year extension.
Buffalo Coal Dundee and Zinoju planned to sell two continuous miners to STA at a price to be offset against amounts owing to STA under the existing agreement and a reduction in the contract mining rate going forward.
Buffalo Coal Dundee would continue mining the Aviemore underground mine and operating the company’s two washing plants and siding.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation