An estimated 200 jobs will be lost
World number two nickel miner Vale announces it's placing it Birchtree nickel mine in Canada's Manitoba province on care and maintenance at the beginning of October. About 150 employees at Birchtree being cut and up to 50 additional jobs in downstream processing, service and support functions will also be affected, reports Mining News.
The suspension of operations is blamed on a weak nickel price which is down 22% from its November highs. The price of steelmaking raw material fell to a ten-month low below $9,000 tonne this week on the back of higher exports by Indonesia and the Philippines, top suppliers to China.