[miningmx.com] – KUMBA Iron Ore, the Anglo American listed subsidiary, is to retrench about 190 jobs, said Reuters citing Solidarity, a union.
“Kumba Iron Ore … announced that it would soon start with a large-scale restructuring process at its Sishen and Kolomela mines. Around 190 employees are affected by the process,” Solidarity said in a statement.
Kumba’s share price fell to a six-and-a-half month low this week after iron ore prices fell 10% in one day, and about a quarter for the week.
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