Petra Diamonds Likely to Face NUM Battle

Mining Weekly reported that earlier this week, the National Union of Mineworkers (NUM) said it will fight retrenchments at Petra Diamonds Ltd.’s (LSE:PDL) Helam mine.

As quoted in the market news:

‘We will fight tooth and nail to make sure that these retrenchments do not happen,’ chief negotiator Lekhotla Mabea said.

He said the company was planning to retrench 370 employees.

The mine, near in Swartruggens, had 421 permanent employees, of which 253 were NUM members, said Mabea.

He said the company had not complied with the Minerals and Petroleum Resources Development Act (MPRDA).

Click here to read the full Mining Weekly report.

Get the Latest Diamond Investing Stock Information

Get the latest information about companies associated with Diamond Investing delivered directly to your inbox.


By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.


Get Our Expert Guide to Diamond Investing FREE!

  Download this FREE Special Report, Investing in Stornoway Diamonds or Other Canadian Diamond Mines – Beyond the Diamond Price Calculator.

Leave a Reply