New Hope makes more job cuts
PERTH (miningweekly.com) – Coal miner New Hope has flagged a next round of redundancies as the stasis around the approval of its New Acland Stage 3 operation, in Queensland, continues.
The miner on Wednesday announced that 14% of its corporate staff have been made redundant while 15% of the workforce at its port facility, Queensland Bulk Handling (QBH), would also be made redundant, while workers at the New Acland mine site awaited a decision on the next round of redundancies.
New Hope noted that the remaining workers at its corporate office would move to a nine-day fortnight and would take a 10% reduction in pay, starting from July 1, while the logistics team members at QBH would take a near 30% decrease in salary.
CEO Shane Stephan said that the cuts would affect more than 150 staff members.
“While this is regrettable, the reduction in hours and pay for our workforce means we can keep the number of redundancies to a minimum at this point. However, continued uncertainty and delays around the approvals of Stage 3 will see production at New Acland continue to reduce and further redundancies will result across all areas of the business.
“We have delayed this move as long as possible, however, the business cannot absorb the losses at New Acland indefinitely without putting the entire business at risk.”
New Hope in 2019 lost 150 staff members at the New Acland mine to redundancies as the Stage 3 approvals lagged behind. Reserves at the current New Acland mine have been depleted, while the Stage 3 expansion would increase annual production from 4.8-million tonnes to 7.5-million tonnes and would extend the project’s mine life by about 12 years.
“The company has been doing a tremendous job in retaining its workforce despite the current pandemic and resultant economic crisis. But without our approvals we have no certainty. I find it inconceivable that, with the current economic position of the state, the government is happy to see more jobs lost when we could be creating jobs for Queensland,” said Stephan.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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