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|Shutdown of Bootu Creek Manganese Mine Announced Officially|
|= Due to sharp drop in manganese ore price =|
On December 15, OM Holdings Ltd. announced officially that it shut down Bootu Creek manganese mine in Australia, which is due to a sharp drop in the price of manganese ore, and the shutdown is anticipated to continue until the price makes a recovery.|
As to the operation of this mine, the local paper reported last week that the mine was practically shut down and it was likely the employees would be laid off, but the Company denied these by saying the policy had yet to be decided.
After that, the Company informed Australian Stock Exchange (ASX) of the shutdown of the mine, which leads to the official announcement of this shutdown.
The local paper reports that the mining operation at the mine was suspended on December 4 and the employees also were notified of the shutdown of the mine.
All the production activities at this mine will be suspended after processing the remaining ore stock is completed, and then, the mine will be kept in care and maintenance condition.
|last modified : Tue 22 Dec, 2015 [09:49]|