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Stock impact report

First Quantum Minerals to cut over 1,000 jobs at Zambia mine [Reuters]

Barrick Gold Corp (ABX)  More Company Research Source: Reuters
Last barrick gold corp earnings: 10/24 05:05 pm Check Earnings Report
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PDF First Quantum Minerals to cut over 1,000 jobs at Zambia mine | Reuters 2 Min Read LUSAKA, Dec 15 (Reuters) - Canada’s First Quantum Minerals plans to lay off more than 1,000 workers at Zambia’s Kalumbila copper-nickel mine when the government hikes taxes in January, the minister of labour said on Saturday. Labour Minister Joyce Simukoko told Reuters that the management at Kalumbila mine wrote to her office last week informing her of the planned job cuts. “We received the letter last week informing us that they want to lay off more than 1,000 workers starting in January but we think these are arm-twisting tactics,” Simukoko said. The Chamber of Mines said on Tuesday mining companies in Zambia may lay off more than 21,000 workers due to reduced capital expenditure over the next three years if the government introduces higher taxes. Africa’s No.2 copper producer plans to introduce new mining duties, replace Value Added Tax with sales tax and increase royalties to help bring down mounting [Read more]
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