Petra Diamonds Facing NUM Opposition

Mining Weekly reported that South Africa’s National Union of Mineworkers (NUM) “vehemently” opposes Petra Diamonds Ltd.’s (LSE:PDL) additional mining rights application.

As quoted in the market news:

NUM acting national spokesperson Livhuwani Mammburu told Mining Weekly Online that the union was strongly opposed to the rights application as it showed that the company had money available and yet still chose to retrench the majority of its workforce at Helam.

‘They are retrenching 80% of their workforce but have money to build another mine,’ he stated.

Meanwhile, Mammburu also felt that Petra had not handled the retrenchment process in accordance with Mineral and Petroleum Resources Development Act requirements, stating that the DMR had not been involved in the process at Helam mine.

Click here to read the full Mining Weekly report.