Grange cuts staff numbers at Savage River
PERTH (miningweekly.com) – Up to 55 staff would be made redundant at the Savage River operation, in Tasmania, as iron pellet producer Grange Resources accelerated its ongoing cost reduction strategy.
The ASX-listed company had previously warned of redundancies at the Savage River mine, citing continued weakness in the iron-ore price.
“The recent falls in the prices of our products mean that it is vital that we reduce cost to protect the long-term interest of our shareholders, staff, contractors and the communities in which we operate,” Grange CEO Honglin Zhao said.
“Unfortunately, this difficult environment has left us with little choice but to make a limited number of positions redundant in order to help ensure that our company and the Savage River project continues to have a strong long-term future.”
The redundancies represented less than 10% of Grange’s total workforce, and would include a number of voluntary redundancies, the company said.
Grange produced about 2.5-million tonnes of magnetite concentrate at Savage River during 2015.
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