The miners of Boseto copper mine in Toteng near Maun have announced plans to lay off most of its workforce as the group continues to retrench its staff in a bid to cut operational costs.
Discovery Metals Limited-the Botswana Stock Exchange listed copper mining company-is Country Manager, Mokwena Morulane said in an interview that the action would undoubtedly affect jobs at its flagship Boseto Copper Project. Boseto mine was commissioned in 2012 and has a workforce of 549.
“We are in talks with the union. No one from the project has been retrenched,” said Morulane declining to state the number of employees likely to be retrenched. With a market capitalisation of P375 million, the company is having a second look at its projects in a bid to cut costs, improve efficiency and profitability.
Its independent contractors will also be affected by the review. The company is also losing the services of Managing Director Brand Sampson who has been with the company for five years. He leaves at the end of December 2013. Bob Fulker has since been appointed interim Managing Director.
In recent times, the Australian mining junior lost key personnel such as Chairman John Shaw and Company Secretary Gregory Seeto.