23
Jan
00:00
Arrium downsizes workforce, mothballs operation, to rescue cash costs
Australian iron ore mining junior Arrium says that it will mothball its “higher cost” Southern Iron operation to optimise its lower cost Middleback Ranges (MBR) output. The move comes as the company presented its 2014 results, monitored by Kallanish. Iron ore output will be lowered and jobs lost, the company discloses.
The “re-design” of its South Australia mining operations is aimed at maximising cash generation, the company says and…
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