Mimosa Cuts Salaries For Workers
Published: 2016 March 22 05:53:42 (6414 Views)
Mimosa Mines has implemented a cost cutting strategy which has seen the slashing of its worker's salaries.
Fungai Makoni, the company's managing director, revealed that the company has slashed salaries across the board and reviewed contracts with service providers among other measures to sustain operations.
The mine has cried fowl over the dropping platinum prices on the world market from a peak of $1,700 per ounce to an average of $950.
Low platinum prices saw Mimosa revenue dipping by 32 percent to $99 million in the half year to December 2015
In 2014, Mimosa retrenched 100 workers in an effort to streamline its operations in light of falling metal prices.
- Chronicle
Fungai Makoni, the company's managing director, revealed that the company has slashed salaries across the board and reviewed contracts with service providers among other measures to sustain operations.
The mine has cried fowl over the dropping platinum prices on the world market from a peak of $1,700 per ounce to an average of $950.
Low platinum prices saw Mimosa revenue dipping by 32 percent to $99 million in the half year to December 2015
In 2014, Mimosa retrenched 100 workers in an effort to streamline its operations in light of falling metal prices.
- Chronicle
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