CHIBULUMA MINES PLC SAVES MORE JOBS AND RE-POSITIONS ITSELF FOR SURVIVAL

Chibuluma Mines embarked on a rigorous operations restructuring programme which was aimed at ensuring the survival of the Company. As a consequence of the restructuring, 300 jobs were initially planned to be lost, however, through dialogue with the Government and the workers representatives (Mineworkers’ Union of Zambia), this number reduced to 258 employees.
The first phase of the restructuring process saw 127 employees declared redundant in January 2016 with plans of releasing the remaining 131 by the end of February 2016. After further review and continued dialogue with all stakeholders, the Company established that it would be more cost effective to reduce production levels, streamline operations and continue to run its operations without outsourcing.
The final number of employees declared redundant in February 2016 was 40 from the planned 131, bringing the total number of employees released to 167. Additional cost cutting measures will continue to be executed to ensure that the business remains viable and any other restructuring actions will be completed within Quarter (1) one of 2016.We would like to take this opportunity to thank all employees for the discipline exhibited during this challenging period, the Union for the support and maturity in dealing with the issues as they arose and the Government for the guidance provided throughout the process.

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