158 Years of History, 1,300 Jobs, One Tragedy: Ekapa Mining Heads for Liquidation

A tragedy underground. A market collapse above ground. And now, the end of a 158-year legacy.

Major diamond mining group Ekapa Mining has announced that it has applied for liquidation. The decision follows a devastating mud rush that trapped five mineworkers approximately 890 metres underground a week agoand a brutal downturn in the global diamond market that has rendered the business no longer viable.

The Tragedy

The mud rush at the mine was a catastrophe in itself. Five workers remain trapped. Now, their colleagues face a different kind of loss: their livelihoods.

Repairs to the affected shaft are estimated to take 10 to 18 months and would require significant capital investment. Management concluded that such investment is not viable.

The Market

The global diamond market has collapsed. The price of rough diamonds has fallen by 55% since late 2025. For a mine already facing operational challenges, the math became impossible.

The Human Cost

Over 1,000 workers are expected to lose their jobs. The National Union of Metalworkers of South Africa (NUMSA) has strongly condemned the company’s actions.

Willie Venter, Deputy General Secretary at Solidarity, described the situation as a double tragedy and a major blow to the community.

“Approximately 1,300 workers are now facing immediate unemployment. In addition, it is reported that many workers have not yet received their salaries for February 2026,” he said.

“The possible liquidation not only affects employeesit is becoming a community crisis. In a region such as the Northern Cape, and specifically Kimberley, alternative employment opportunities are limited. The impact on families and the wider community will be enormous.”

The Community Impact

Ekapa Mining has been a central pillar of Kimberley’s economy for 158 years. Its closure will not just idle workersit will unravel a vast network of local businesses that depended on the mine. Suppliers, service providers, retailersall will feel the knock-on effect.

Venter said Solidarity will ensure its members are supported throughout the liquidation process, should it proceed.

“However, we hope that an alternative solution can be found to keep the mine operational for the sake of the workers and the community, despite the tragic accident and market pressures.”

A Pattern of Collapse

Ekapa joins a growing list of major South African companies facing liquidation.

• Murray & Roberts Holdings entered liquidation proceedings in 2025, with its subsidiary sold off in business rescue.

• Tongaat-Hulett applied for liquidation, though the Department of Trade, Industry and Competition stepped in to save jobs and secure the sugar sector.

South Africa experienced over 1,500 liquidations in 2025.

The Bottom Line

Kimberley was built on diamonds. For 158 years, Ekapa Mining was part of that story. Now, the story is endingin tragedy, in market forces, and in the cold arithmetic of liquidation.

1,300 workers face unemployment. Thousands more in the community will feel the ripple effects. And a historic mining town braces for yet another blow.

{Source: BusinessTech}

Follow Joburg ETC on Facebook, Twitter , TikTok and Instagram

For more News in Johannesburg, visit joburgetc.com