The troubled Khoemacau Copper Mining (Pty) Ltd, a subsidiary of Cupric Canyon Capital has slashed the number of retrenchment from 74 to 60 employees, Sunday Standard has established.
The company said this week that following a period of consultation with its employees since the beginning of August, it has since decided to settle to let go atleast 60 workers instead of the original target of 74.
Managing Director of Khoemacau Copper Mining at Cupric Canyon Capital, Johan Ferreira who is based in South Africa confirmed the process.
“The outcome of few activities against the background of certain external factors such as uncertainty around the timing of the power transmission line project and ongoing environmental permitting, have led to a decision to extend this preconstruction period and to move project commencement into the second half of 2018,” stated Ferreira.
In early 2017 Khoemacau commenced the process of mobilisation for construction of the Khoemacau Copper Silver Project. The process involved the assembly of the project execution team, as well as various advanced engineering and planning activities.
Khoemacau says the project team, together with Fluor, the appointed EPCM, (Engineering, Procurement, and Construction Management) are currently focused on project optimisation and risk mitigation work, along with the completion of project permitting, which will deliver a fit-for-purpose and sustainable execution plan that will produce a highly mechanised, low cost and long life, underground mining operation in the Kalahari Copper Belt.
“During this period of project engineering, as well as during the 2-year project construction period, there will be limited exploration and care and maintenance work on the project site,” he stated.
Ferreira also said the board decided to scale back on these activities along with related support services and focus the company’s resources on project development. He added that this downsizing has affected not only the project site-based employees but also those providing support functions from Cupric Africa’s Johannesburg office.
“The project is still being developed so there has not been any production thus far. The production start-up will be moved out a few months because of this additional pre construction engineering work,” he said.