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BRIEF-Mirabela Nickel terminated about 220 employees and 180 contractors at Santa Rita mine

Published 30/10/2015, 08:45 am
© Reuters.  BRIEF-Mirabela Nickel terminated about 220 employees and 180 contractors at Santa Rita mine

Oct 30 (Reuters) - Mirabela Nickel Ltd MBN.AX :

* Reduction in mine production output MBN.AX

* Co's unit terminated employment of about 220 employees and about 180 contractors at santa Rita mine

* Reduction of workforce at the Santa Rita mine forms part of mmb's decision to decrease production output at the Santa Rita mine"

* "Believe this action to be prudent in light of continuing sustained weak nickel price"

* 2015 production guidance is changed from 16,500 - 18,000 tonnes to about 14,500 - 16,000 tonnes of nickel contained in concentrate

* "Lower production model will facilitate 33% reduction in current nickel in concentrate annual production output from 18,000t to 12,000t"

Source text for Eikon ID:nASX47hkJC

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