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Broken Hill Rasp Mine to sit tight amid falling zinc prices-The 17th China（Guangzhou）Int’l Sheetmetal machinery, Forging, Stamping and Setting Equipment Exhibition
10/16/2015 Forging, Stamping and Setting Equipment Exhibition |
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the operator of Broken Hill''s Rasp Mine says it will continue to run as normal, despite falling metal prices which have forced mine closures elsewhere in the country. Mining company Glencore cut more than 530 jobs from its north-west Queensland and Mount Isa zinc operations last week, and has reduced its global zinc production by more than a third.
The chief operating officer at CBH which operates the Rasp Mine in Broken Hill, Visko Sulicich, said the much-smaller Broken Hill operation won''t be following suit and will try and ride out the market slump.
He said "Glencore is in a position where they can manipulate the market. We obviously can''t. So we''re going to sit tight and see it through, and hopefully this is a floor in the price. Company believes the Rasp Mine can survive the current price slump. Look, we have to, it''s marking time. That''s the reason we got into the zinc lodes originally, so it''d give us a chance, but the prices have dropped a lot more than we thought. We''ve just got to tough it out now for the next six months."
Glencore said its move was to preserve the value of zinc reserves in the ground with prices so low.
中国最大钣金展-锻压展-2016第十七届广州国际钣金、锻压工业展览会-巨浪展览-
-The
17th China（Guangzhou）Int’l
Sheetmetal machinery, Forging, Stamping and Setting Equipment Exhibition
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