Voluntary redundancy scheme introduced at NRE Coking Coal
PERTH (miningweekly.com) – ASX-listed Gujarat NRE Coking Coal on Friday announced that it had introduced a voluntary redundancy scheme as part of its efforts to reduce its workforce by about 20%.
A business review has prompted the company to make significant operational changes, including the decision to make 90 positions redundant.
Gujarat chairperson and CEO Jasbir Singh said on Friday that the company had received a number of redundancy applications, and after perusing each application, 47 of these had been accepted.
“The company has been through a difficult time with coal prices remaining low for an extended period of time and reduced production resulting in severe cash flow issues. The recent investment of over $110-million from its new majority shareholder, Jindal Steel and Power, has allowed the company to revive its cash flow issues,” said Singh.
He noted that significant effort had been made over the past three months to not only restore and improve the current operations, but also the continuity of mining operations to maximise employment.
“The market conditions are yet to improve, and it is absolutely critical for the company to keep its cost down in order to be competitive,” Singh added.
The company was now reviewing the possible restructure and relocation of the workforce over its two mines in New South Wales.
The mines, NRE No. 1 colliery and NRE Wongawilli colliery, contain estimated coal reserves of 125-million tonnes and resources of 651-million tonnes.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
