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SouthernEra Suspends Mining at Klipspringer
By Sheryl Katz Posted: 01/04/04 03:49
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(Rapaport… January 4, 2004) The strengthening of the South African rand relative to the U.S. dollar has led Canada’s SouthernEra Resources to suspend diamond mining operations at the Klipspringer joint venture. The decision was announced on December 31, 2003.

The joint venture’s operating costs are denominated in rands, while diamond revenue is in U.S. dollars. The significant appreciation of the rand during 2003 caused the operation to become unprofitable. In agreement with the two representative unions, nonessential employees have been retrenched.

SouthernEra also announced on January 2, 2004 that Alasdair MacPhee has been appointed as executive vice president, Africa. The announcement follows the retirement of Mike Eksteen from the position of senior vice president and chief operating officer. MacPhee will be responsible for the group’s operating, business development and exploration activities in Africa. MacPhee worked for De Beers for 17 years before joining SouthernEra in 1997. He led the construction of the Marsfontein and Klipspringer mines.
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