Tougher times for mining companies forced BHP Billiton to cut-down jobs of 85 workers at its Olympic Dam mine yesterday. The director of SA Chamber of Mines and Energy for industry marketing, Anne Walker, said: The fall in commodity prices — and copper prices in particular — has affected mining companies worldwide and unfortunately, BHP [...]
BHP, which last week booked a $386 million charge for its failed takeover bid for Rio, has joined Xstrata Plc and Rio in closing mines and cutting jobs as the global recession cuts demand. For full story, click here
Nippon Mining Holdings Inc says thinking of curbing copper output by 10-20 percent. For full story, click here
Kazakh miner Kazakhmys posted a 7 percent increase in fourth quarter copper cathode output compared to the previous quarter but said it would address falling demand by cutting spending and output in 2009. For full story, click here
African Copper said it will suspend production at its Mowana copper mine in Botswana for at least three weeks while it holds talks to raise up to $15 million for its working capital needs. For full story, click here
Many existing producers also have shut down or curtailed output at mines and plants as high costs and low prices bite. For full story, click here
Freeport-McMoRan Copper said it would reduce mining and crushed leach rates by 50 percent, compared with a 25 percent curtailment announced in December, along with a series of other operating reductions and deferred start-ups. For full story, click here
may cut taxes on mining companies in its annual budget this week as the global financial crisis saps demand for copper, the country’s main export, the Chamber of Mines said. For full story, click here
Norilsk Nickel says nickel, platinum and palladium output to fall from previously planned levels. Plans to cut copper output, while further falls expected in platinum and palladium. For full story, click here
Xstrata says has cut ore production by 20 percent at its McArthur River lead-zinc mine in Australia. For full story, click here
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