The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 16th April 2009 (4810 views)

JIC Mining Services has stated that it is planning to bring the Orkney gold mine, owned by Pamodzi Gold, back into production.

According to the company, the move will restore 1,200 jobs immediately and ultimately lead to all 2,800 being reinstated, possibly as early as July 2009.

A stay of execution has been granted for the provisional liquidation of the mine and funding is being sought to ensure its future operation.

By taking the mine out of care-and-maintenance, JIC will act as a service provider on behalf of the joint provisional liquidators of the mine.

Production at Orkney, located in South Africa's North West province, will be restarted on a staggered basis over the next few months.

The mine was purchased by Pamodzi Gold from Harmony Gold and has had some recent problems with cash flow.

Based in South Africa, JIC Mining Services provides outsourced services to the mining industry in the management, consulting, engineering and construction fields.

 

« Back to Gold News stories