From the ABC:
In a statement, Karara Mining said that due to “market conditions and the falling iron ore price” it would “regrettably” need to shed about 15 per cent of its total workforce.
About 70 positions will go from its Perth office, mine site and Geraldton Port operations, with lay offs already underway…The company has not ruled out any further job cuts.
Gindalbie’s latest financial report, released this month, revealed a net loss of $3.2 million for the final six months of last year.
Earlier this month, the mine received its first WA Government discount on royalties.
Karara Mining received a 50 per cent rebate, which was announced by the Government in 2013 to assist magnetite mines in their start-up phase.
Another triumph of the WA politburo.
