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Anglo American-owned De Beers has announced plans to cut 366 jobs in its South African mines as part of its retrenchment process.

As part of its plans, the company will axe 152 posts at its Venetia Mine outside Musina, with a further jobs going at some of its other South African mines.

The latest decision comes as De Beers plans to align its production in order to cope with a commodities rout.

South African trade union Solidarity general secretary Gideon du Plessis said that the announcement was made before the briefing session by Anglo American, stating that its financial position had seriously deteriorated in the recent past.

"Anglo American and De Beers was accused of wanting to reduce their mines from 53 to 16."

Du Plessis said: "Anglo American and De Beers want to reduce their mines from 53 to only 16 mines.

"Moreover, Anglo American wants to reduce its platinum mines in South Africa to only five, and it would sell Kumba Iron Ore. In addition, the company wants to sell all nine its coal mines in South Africa."

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By GlobalData

In December 2015, De Beers halted operations at its troubled Snap Lake diamond mine in Canada, citing weak diamond prices. The mine has been put on care and maintenance, with 434 employees made redundant.

Snap Lake was planned to operate until 2028, but is facing closure due to groundwater problems.

Image: De Beers will cut 152 posts at its Venetia Mine outside Musina. Photo: courtesy of De Beers.