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Commodities Supplier Glencore to Cut 20 Pct of Namibia Mine Jobs

Commodities Supplier Glencore to Cut 20 Pct of Namibia Mine Jobs

Written by Felix Njini | From Bloomberg

Glencore Plc (GLEN), the biggest publicly traded commodities supplier, is cutting about a fifth of the full-time positions at its Rosh Pinah zinc and lead mine in Namibia, which a mineworkers’ union is opposing.

“The management of Rosh Pinah Zinc Corp. has announced changes that aim to address significant economic pressures,” the company said in an e-mailed statement yesterday. “The changes affecting approximately 124 full-time employees are part of an ongoing review of operations.” The company didn’t provide more information.

The Mineworkers Union of Namibia has asked the nation’s labor court to order a halt to the reductions, General Secretary Ebben Zarondo said by phone. The company has cut 190 positions there since May 30 because it isn’t breaking even, he said.

Rosh Pinah, an underground mine 800 kilometers (497 miles) south of Namibia’s capital, Windhoek, had 600 permanent employees and about 138 contractors and temporary workers by the end of 2013, according to the Namibian Chamber of Mines’ annual report.

Read more at Bloomberg