Petromin CEO Visits TGM

Petromin CEO Visits TGM

This is a follow up on the previous post we did about TGM Dying a Slow death.

Petromin CEO Sam Inguba visited Tolukuma Gold Mines on Saturday 20th October, 2013.

In our previous publication we plainly stated the 3 options which TGM Management has endorsed and will enforce. They are:

1. Redundancy.
The Petromin Board has sat for a meeting and agreed that TGM must put 100 plus work force on redundancy and that off course is happening.
The human resources has already interviewed the all section heads(HODs) and finalized which employee to be on that list and once you are on that list then you’ll
paid full package and it’s just same as terminating that employee on no grounds.

2. Annual Leave.
Those employees who have annual leave credits are being forced to apply for leave and go leave in order to allow contractors to come in and do contract works.
If you do not have leave credits then you will be forced go on leave using your long service leave credits.

3. Lay Off.
Upon taking your leave and when it is due and your start work date has commenced and if your boss needed your service then you can come in to resume duties otherwise
you can stay out and be paid with full during two months time and that is when the contractors are already at site doing contract works.

The CEOs in his speech @ 6:00 pm revealed that Petromin Board after its meeting in POM has secured some funds from Westpac Bank and BSP to run operations at Tolukuma (loan) and those who are 50 yrs and over will be retrenched with full entitlements. Those with annual leave credits will be asked to take 3 months stay at home with full pay.

This loan money from Wespac and BSP will be used to buy [or has already bought some machinery for mobile maintenance and part to upgrade the mill.
Chopper flights will be reduced to 2 flights per day /2 flights per week.

The CEO was to meet with the Land Owners group the next day to make this known to them.

By Monday HOD’s [today] will make known who will remain and who is going and arrangements will be made to fly out those going. By end of week workforce manning will be reduce to 200 plus for those who will stay on site to work for 3 months care maintenance period.

Operations will be back to normal by early next year after all required maintenance completed.


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