https://www.engineeringnews.co.za

Grange warns of job losses at Tasmania mine

6th January 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Iron-ore pellet producer Grange Resources on Wednesday warned of redundancies at its Savage River mine, in Tasmania, citing the continued weakness in the iron-ore price among other factors.

Grange told shareholders that despite refurbishing the mills at Savage River during 2015, the company had achieved record pellet production. In addition, significant cost reductions were realised throughout the year.

The miner was also continuing with its optimisation strategy, which would be completed in early 2016, and was geared towards a continued reduction in costs, maximising margins and retaining free cash flow.

However, Grange noted that owing to the continued weakness in the iron-ore price and subdued demand for pellet product, combined with the optimisation study, redundancies would likely be made at the Savage River operation.

According to Australian government statistics, the price of iron-ore declined by 43% in 2015.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.057 0.874s - 140pq - 2rq
Subscribe Now