Discovery chops 85 jobs at Boseto

DML country manager, Mokwena Morulane told Mmegi Business this week that management has approved the exercise designed to improve the cost competitiveness of the mine and enhance production efficiencies. The restructuring would see the retrenchment of 85 of the 516 employees at Boseto, though this is not expected to have a material effect on the production.

Saddled with a $153 million (P1.3 billion) debt, the mining company is going through a financial strain largely stemming from the collapse of the $100 million (P870 million) recapitalisation deal from Singaporean firm, Blumont.