Staff Reporter<\/p>\n\n\n\n
SINOMINE Resources Group, a Chinese mining company which took over the Tsumeb Smelter in a merger with Dundee Precious Metals last year, has undone its solemn “no-retrenchment for three years” promise to the workers and to the Namibia Competition Commission.<\/p>\n\n\n\n
Only nine months down the line, the company has announced it is in the process of retrenching 650 employees due to challenges the company is currently facing, including increased smelting capabilities in copper-producing countries.<\/p>\n\n\n\n
The Tsumeb Smelter primarily processes copper concentrates from Bulgaria, Chile, and Peru. It also has the capacity to handle concentrates from Greece, Zambia, and South Africa, according to The Extractor Magazine.<\/p>\n\n\n\n
However, the increased smelting capabilities elsewhere have led to a shortage of copper concentrate.<\/p>\n\n\n\n
Sinomine described the pause in production as “temporary”, but the affected workers face an uncertain future.<\/p>\n\n\n\n
Picture for illustrative purposes only. Photo: Contributed<\/p>\n","protected":false},"excerpt":{"rendered":"
Staff Reporter SINOMINE Resources Group, a Chinese mining company which took over the Tsumeb Smelter in a merger with Dundee Precious Metals last year, has undone its solemn “no-retrenchment for three years” promise to the workers and to the Namibia Competition Commission. Only nine months down the line, the company has announced it is in …<\/p>\n","protected":false},"author":10,"featured_media":376520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,27,24],"tags":[],"class_list":["post-376518","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking-news","category-business","category-news"],"yoast_head":"\n