Mine closure temporary

Posted October 9, 2015

Lady Loretta Neighbours Day, Nov 2014

Underground at Lady Loretta

Glencore has reaffirmed that the decision to temporarily suspend operations at the Lady Loretta mine was strategic and not taken to reduce costs.

Glencore announced this morning it will either redeploy or offer redundancies to more than 330 staff across its Australian zinc operations. Another 200 contractor positions will go.

Operations at Lady Loretta will be suspended with 242 jobs lost; another 224 will go from George Fisher and 69 from the McArthur River operation.

Glencore will look at opportunities to redeploy more than 160 staff from Mount Isa. The remainder, around 190 positions, are fly-in fly-out.

The Lady Loretta and George Fisher operations are located near Mount Isa and the McArthur River mine is situated about 70km southwest of Borroloola, near the Gulf of Carpentaria in the north east of the Northern Territory.

The assets were high value resources that were currently trading below the cost of production and it was in the interests of the stakeholder to preserve the resource in the short term, Glencore said in a statement.

Glencore had announced it was reducing its Australian zinc production by around 380,000t.



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