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Article: Dominican Republic a: Anglo-Swiss mining company Xstrata temporarily suspends mining in DomRep.
- Article from:
- TendersInfo
- Article date:
- August 21, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: prashant03
Anglo-Swiss mining company Xstrata PLC said Tuesday it will suspend operations in the Dominican Republic for four months because of high oil costs and a drop in nickel prices.
Xstrata PLC, which owns Canadas former Falconbridge Ltd., said the break will allow the company to switch its power source from oil to coal, develop an energy-conversion project and explore new land for mining. No one will be laid off, spokesman Luis Rosado said.
About 90 per cent of the 1,800 employees at local subsidiary Falconbridge ...