Cluff Gold Sierra Leone, a subsidiary of Amara Mining plc, has restructured its workforce at the Baomahun Gold Project in light of the falling gold price.\u00a0 The restructuring also came at a time when Cluff Gold SL had completed its drilling programme in advance of the feasibility study, which was released on 02 July 2013.\u00a0 (Photo: Country Manager of Cluff Gold SL, Alusine Jalloh)<\/i><\/p>\n
Many of the employees were involved in the drilling programme or were support staff, so now the project has entered an evaluative stage, their skills were no longer required.\u00a0 However Amara remains committed to supporting the communities in which it operates, with initiatives such as the Eco-Livelihood Project and Planting Promise continuing to be funded by the company.<\/p>\n
Amara is cutting costs across its other assets in West Africa and at its head office in London in order to weather the difficult market conditions caused by the falling gold price.\u00a0 At its peak in September 2011, gold was trading at US$1,900\/oz, however last week it reached a recent low of below US$1,200, which directly affects Amara\u2019s profitability.\u00a0 Amara has one small producing mine in Burkina Faso which funds all activities across the company in Burkina Faso, Ivory Coast, Sierra Leone and the UK.<\/p>\n
Following the unexpected drop in the gold price, mining companies around the globe are being forced to close mines and cut costs wherever possible.\u00a0 At the current price, around half of South Africa\u2019s gold mines are not expected to break even.\u00a0 Amara is not alone in reducing its workforce, with even the major gold producers cutting costs and halting expansion plans.<\/p>\n
The Country Manager of Cluff Gold SL, Alusine Jalloh, confirmed the reduction in staff and that the company has grounded all vehicles that are not required for basic operations.\u00a0 However he reiterated the positive impact Amara will have on to Sierra Leone in the longer term:<\/p>\n
\u201cThe feasibility study shows that Baomahun is a viable mine that can provide many benefits for the people of Sierra Leone, including jobs, skills and prosperity.\u00a0 However the current market conditions mean that it is difficult for companies like Amara to raise capital, which means it may take longer than anticipated to start construction and begin production.\u00a0 The company will continue to work closely with local communities though and keep the people of Sierra Leone up to date with developments.\u201d<\/p>\n
Cluff Gold SL is poised to be the first industrial gold producer in Sierra Leone.<\/p>\n
Saidu Bah<\/em><\/p>\n Stay with Sierra Express Media, for your trusted place in news!<\/i><\/b><\/p>\n Cluff Gold Sierra Leone, a subsidiary of Amara Mining plc, has restructured its workforce at the Baomahun Gold Project in light of the falling gold […]<\/p>\n","protected":false},"author":34,"featured_media":57441,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[671,673],"tags":[13661,8855,8856,1363],"class_list":["post-58751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-national-news","tag-amara-mining-plc","tag-cluff-gold","tag-country-manager-alusine-jalloh","tag-gold-sierra-leone"],"_links":{"self":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/posts\/58751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58751"}],"version-history":[{"count":0,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/posts\/58751\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/media\/57441"}],"wp:attachment":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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