Over 250 job cuts as Ghaghoo mine closes

Friday, February 17, 2017

Operations at Ghaghoo Mine have stopped with immediate effect

Over 250 workers will have their contracts terminated at Ghaghoo Mine after Gem Diamonds yesterday decided to put the mine under care and maintenance due to depressed diamond prices.

Gem Diamonds Botswana managing director, Haile Mphusu told BusinessWeek that the prices of the smaller commercial goods mined at Ghaghoo have come under pressure rendering production unprofitable.

The mine employs 298 workers including contractors and according to Mphusu all but between 30 and 40 workers will have their contracts terminated.

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Over 250 job cuts as Ghaghoo mine closes

Over 250 workers will have their contracts terminated at Ghaghoo Mine after Gem Diamonds yesterday decided to put the mine under care and maintenance due to depressed diamond prices.