Australian miner Jervois Global Ltd. is cutting costs and jobs in response to a plunge in cobalt prices that it’s blaming on Chinese oversupply.

Thursday, March 7, 2024 - 22:52:42

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South Africa’s platinum producers are in crisis, as slumping metal prices force jobs cuts and erode profits.

Wednesday, March 6, 2024 - 22:27:35

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Kumba Iron Ore shares fell more than 5% on Tuesday after it announced plans to cut about 490 jobs, following a reduction in production as it struggles to overcome South Africa’s persistent rail bottlenecks.

Tuesday, February 20, 2024 - 19:34:40

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Restructuring of South Africa’s platinum group metals (PGM) industry in response to rising costs and falling prices could result in between 4,000 and 7,000 job cuts, the country’s Minerals Council said on Monday.

Tuesday, February 6, 2024 - 14:31:52

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Swedish miner Boliden’s plans to shrink operations and reduce targeted output at its Tara zinc mine in Ireland when it restarts this year, a source close to the matter told Reuters.

Thursday, February 1, 2024 - 23:10:18

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Sandvik plans to cut around 1,100 jobs as part of a cost-saving drive, the Swedish mining equipment maker said on Thursday, as it reported adjusted fourth-quarter profits just below expectations.

Thursday, January 25, 2024 - 22:40:14

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Mining News Pro - Thungela Resources does not plan broad job cuts at its South African coal mines despite ongoing output curbs, as it plans to re-deploy staff to new projects that will start producing next year, CFO Deon Smith said on Wednesday.

Wednesday, December 13, 2023 - 01:13:23

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Mining News Pro - Lundin Mining announced that former president Jack Lundin has officially assumed the role of chief executive officer and will join the board of the Canadian miner on January 1.

Monday, December 4, 2023 - 22:21:13

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Mining News Pro - The company has held talks with the government over the potential reduction in its workforce, the people said, asking not to be identified because the matter hasn’t been made public. Senior government officials asked the company to consider delaying the cuts until after elections likely to take place around May, three of the people said. SIGN UP FOR THE IRON ORE DIGEST The Congress of South African Trade Unions said that Anglo has also spoken to one of its members, the National Union of Mineworkers, about the matter. The job cuts would be another blow to the electoral prospects of President Cyril Ramaphosa and his ruling African National Congress. Anglo is already in the midst of plans to slash corporate and head office jobs globally, with many of those positions in South Africa. The company joined other mining behemoths in posting a steep drop in first-half profit as China’s economic slowdown damped earnings. Anglo American Platinum Ltd. — about 79% owned by London-based Anglo — is contending with a 14% fall in the price of platinum this year and a 41% plunge in palladium, a valuable byproduct. Rival Sibanye Stillwater Ltd. said in October that it may fire more than 4,000 platinum workers. Kumba Iron Ore Ltd., owner of South Africa’s biggest iron ore mine and a 70% subsidiary of Anglo, said third-quarter iron ore sales fell 12% from the year earlier, largely because of the poor performance of state ports and freight rail company, Transnet SOC Ltd. The company is almost out of storage space for the ore it has mined and can’t rail it, one of the people said. “It is no secret that the current operating environment is very tough for both macro and South Africa-specific reasons and we are playing a major role in working across business and with government to help resolve some of those South Africa constraints,” Anglo said in a response to queries. “Beyond that, it would be inappropriate for us to comment on the details of our discussions.” While a final decision on whether to fire workers and how many positions may be affected has not been taken, the job cuts may impact Anglo American Platinum first, the people familiar said. Those at Kumba may be deferred until later, they added. The minerals department didn’t respond to a request for comment, while Gwede Mantashe, minerals and energy minister and chairman of the ANC, didn’t answer a call to his phone or respond to a text message. PGM prices are falling because of global economic conditions, especially the weaker-than-expected recovery in China. Kumba’s woes are directly related to the sub-standard performance of Transnet, whose inability to rail commodities to ports has also led to coal companies Seriti Resources Holdings Ltd. and Glencore Plc to start talks over job cuts. The plunge in rail performance has seen the amount of iron ore transported to ports fall to the lowest in a decade, while coal shipments by rail are at a 30-year low, according to a report prepared for Ramaphosa’s office. In an Oct. 24 production report, Kumba said “ongoing rail and port challenges have increased our focus on cost optimization and initiatives to match production and optimize logistics capacity.” It said it had 9 million tons of iron ore in stock at the end of September, almost double the amount it had on site a year earlier.

Saturday, November 25, 2023 - 22:07:11

Visit: 174

Mining News Pro - The Federal Government’s Closing Loopholes Bill has been successfully split in a bid to pass uncontentious and broadly supported protections, the ABC reported.

Wednesday, November 8, 2023 - 18:12:50

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Mining News Pro - Miner and trader Glencore is set to close its three underground copper mines in Mount Isa by the end of 2025, in a move that will result in the loss of about 1,000 jobs, newspaper Australian Financial Review reported on Tuesday.

Wednesday, October 18, 2023 - 19:49:52

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Mining News Pro - Miner and trader Glencore is set to close its three underground copper mines in Mount Isa by the end of 2025, in a move that will result in the loss of about 1,000 jobs, newspaper Australian Financial Review reported on Tuesday.

Tuesday, October 17, 2023 - 22:26:35

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Mining News Pro - Sibanye Stillwater, South Africa’s biggest mining sector employer, may be forced to close some loss-making shafts, its CEO told Reuters, adding job cuts in platinum mining had become inevitable as prices of the precious metals fall.

Thursday, October 5, 2023 - 16:56:49

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Mining News Pro - Chile’s state-owned Codelco, the world’s top copper producer, is said to have narrowed down the names for the company’s potential new chief executive to about five candidates, including Antofagasta’s (LON: ANTO) CEO Iván Arriagada.

Thursday, July 20, 2023 - 23:59:18

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Mining News Pro - In line with social responsibility and strengthening the economic foundation of low-income families, Chadormalu Mining and Industrial Company has succeeded in employing 1,387 capable people but lacking capital in the past 19 months by implementing 1,074 self-employment and entrepreneurship projects in order to create small and home-based businesses.

Tuesday, April 18, 2023 - 19:16:42

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Mining News Pro - Hick, who began her mining career at Hamersley Iron in 1996, joins Fortescue at a time when the company is tapping into new commodities, such as critical minerals and rare earths.

Wednesday, November 30, 2022 - 10:16:30

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Here are five of the most searched jobs in the mining industry. We will explore what these roles consist of, what qualifications and skills you need, and what potential career paths are available.

Sunday, November 27, 2022 - 10:00:02

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Mining News Pro - During the first 25 years of mining, Cascabel is expected to have an average annual production of 207,000 tonnes of copper, 438,000 ounces of gold and 1.4 million ounces of silver.

Saturday, November 12, 2022 - 10:59:18

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Mining News Pro - Gold retreated on Wednesday after a two-day surge as traders weighed whether the Federal Reserve may moderate its hawkish stance after the release of weak US data.

Wednesday, October 5, 2022 - 22:28:21

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Mining News Pro - The copper price rose on Friday following a US jobs report that provided both good and bad news for investors.

Saturday, August 6, 2022 - 13:31:27

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Mining News Pro - Teck Resources, Canada’s largest diversified miner, has announced its chief executive officer, Don Lindsay, will step down after 17 years in the role.

Friday, July 29, 2022 - 13:57:39

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Mining News Pro - Chief executive of KSC mentioned that development of steel industry and job creation is the priority of this company.

Tuesday, June 14, 2022 - 22:01:02

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Mining News Pro - Canada’s Nutrien, the world’s largest potash producer, surprised the market on Tuesday by announcing its chief executive officer Mayo Schmidt had left the company and resigned from the board after about nine months at the top job.

Wednesday, January 5, 2022 - 12:44:58

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Mining News Pro - Volkswagen chief executive Herbert Diess told workers on Thursday to brace for a deeper company overhaul when US electric vehicle (EV) maker Tesla starts ramping up production at its first European factory outside Berlin next year.

Friday, November 5, 2021 - 13:51:10

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Mining News Pro - Mike Fraser, outgoing COO of ASX- and JSE-listed South32, has been appointed CEO of London-listed Chaarat – a gold mining company which operates in Armenia and Kyrgyzstan.

Monday, September 27, 2021 - 14:24:29

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