26
Jun
01:00
Roy Hill cuts salaries in preparation for low prices
Australia’s Roy Hill Holdings will cut pay for all but its lowest paid employees as an alternative to cutting staff to control costs, it says. The mine is due to come on stream in late September, adding to supply just as iron ore prices are at their weakest, Kallanish notes.
The 55 million tonnes/year mine has investment from Korea’s Posco and Taiwan’s China Steel but is majority owned by Gina Rinehart’s Hancock Prospecting. It began …
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Anonymous
Very good overview of the weekly steel market.
Anonymous