LONDON, June 3 Global mining and commodity
trading company Glencore said it was cutting 124 jobs,
or about 20 percent of the staff, at its Rosh Pinah zinc and
lead mine in Namibia to control costs.
Glencore bought an 80.1 percent stake in Rosh Pinah zinc and
lead mine, in southwestern Namibia, 800 kilometers south of the
capital Windhoek, in 2011 from South Africa's Exxaro
and other shareholders, and has been reviewing the operation.
"The management of Rosh Pinah Zinc Corporation has announced
changes that aim to address significant economic pressures,"
Glencore said in a statement.
"We sympathise and understand that this may be a difficult
time for some of our employees and their families. As a result,
we have engaged the Chamber of Mines to coordinate the possible
appointment (of the staffers losing their jobs) at other mines
The underground Rosh Pinah mine produced about 114,000
tonnes of zinc concentrate and 20,550 tonnes of lead concentrate
in 2013, up 20 percent and 17.5 percent respectively compared to
2012, according to the Chamber of Mines of Namibia.
The Namibian company has 600 permanent employees and about
138 temporary employees and contractors and had a turnover of
about 834 million Namibian dollars ($78.1 million) in 2013,
according to the Chamber of Mines.
($1 = 10.6850 Namibian Dollars)
(Reporting by Silvia Antonioli; editing by Jane Baird)