JOHANNESBURG (miningweekly.com) – JSE-listed Tranx Hex will place its Baken mine, in the Northern Cape, on care and maintenance from November 1.
The diamond miner on Friday said that, while every effort has been taken to sustain operations at the mine, its low-carat production and subsequent financial losses have made the operation unsustainable.
The mine incurred a loss of R35.8-million in the 2017 financial year, ended March 31, and a further loss of R46.5-million between April and July.
Trans Hex has issued a notice to the National Union of Mineworkers (NUM) and on September 1 started consultations with the union over the potential retrenchment of the mine’s 332 employees.
Operations at the mine will continue during the consultation process.
Trans Hex in February placed its Bloeddrif mine, also in the Northern Cape, on care and maintenance.