https://www.engineeringnews.co.za
Africa|Copper|Mining|Equipment|Operations
Africa|Copper|Mining|Equipment|Operations
africa|copper|mining|equipment|operations

Over 400 jobs at risk at Weatherly Namibia copper mine – union

22nd January 2020

By: Reuters

  

Font size: - +

More than 400 jobs are at risk as Africa-focused copper miner Weatherly, weighed by some $140-million in debt, is set to halt operations at its Tschudi mine in northern Namibia at the beginning of March, a union official said on Wednesday.

"(Weatherly) are looking at an alternative investor, however, if they don't get one, over 400 workers will lose their jobs," Paul Situmba, assistant secretary-general of the Mine Workers Union, told Reuters.

"Weatherly hosts a total of 150 permanent employees, as well as subcontractor workers from Basil Read and B & E Mining, which make up the bulk of the employees that will face the axe."

Financing company Orion has reduced funding to the firm saying the activities are no longer viable.

"Weatherly owes Orion $140-million. There is no way that can be repaid [given the current] state of copper mining," Weatherly Mining Namibia Managing Director John Sisay told local media last week.

Sisay was not available for immediate comment on Wednesday.

But he is on record saying the miner's debt to Orion and the depressed copper market made it unlikely that mining would continue at Tschudi in the foreseeable future.

He was, however, optimistic that new investors could potentially come on board.

"We are talking to several interested parties. They just need to understand the asset better, the ore body better. We hope for a stronger market in 2020. The asset in terms of mining equipment is still fairly new and working well," Sisay said.

Edited by Reuters

Comments

Showroom

Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer
Magazine round up | 15 March 2024
Magazine round up | 15 March 2024
15th March 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.088 0.142s - 153pq - 2rq
Subscribe Now