More Waikato mining jobs are set to get the chop following an announcement that Newmont Waihi Gold is looking to cut it’s workforce to compensate for a surge in operating costs.

The subsidiary of global mining giant Newmont Mining Corporation outlined its intention in a statement this morning. 

It is expected that approximately 20 staff and contractors will be affected by the cuts, though it will not be possible to confirm the full scope of losses and changes until the consultation process has finished on October 2.

There’s also expected to be a significant scaling back of Newmont Waihi Gold’s exploration programme.

The cuts are part of a wider package of job cuts across all Newmont sites globally. Staff at Newmont’s four mines and regional headquarters in Australia have also been notified this week of likely redundancies. Newmont Waihi Gold general manager of operations Glen

Grindlay said the decision to reduce their workforce is not one that we take lightly

‘‘We will be working closely with all staff to help them through this difficult period. But the reality is that over the, past five years our operational costs such as materials and labour have risen far faster than gold prices and that has had a significant impact on the company – both globally as well as here in Waihi. 

‘‘We need to start reducing our costs now in order to keep the mine viable.’’

Where possible the company will be seeking to offer changes of jobs rather than redundancies, and some staff are in the process of being offered jobs at other Newmont sites globally.

- © Fairfax NZ News

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