PERTH (miningweekly.com) – Embattled nickel miner Mirabela Nickel has cut nearly 34% of its staff numbers as the nickel price remains low.
The company dismissed some 220 employees and a further 180 contractors at its Santa Rita mine, in Brazil, as part of a decision to decrease production from the mine to reduce operating costs.
The lower production model was implemented in late October and would see a 33% reduction in yearly nickel concentrate output at Santa Rita, which Mirabela was hoping would allow the operation to reach a break-even cash position over the next 15 months.
Yearly production would reduce from 18 000 t to 12 000 t.
For the full 2015, Mirabela was expected to deliver between 14 500 t and 16 000 t of nickel in concentrate.