Mine and smelter Basin Bor is cutting costs - Cuts in salaries and unprofitable departments to shut down

Source: Novosti Tuesday, 29.12.2015. 10:46
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(Photo: Sumit buranarothtrakul/shutterstock.com)
In 2016, the first task of the Mining and smelter basin (RTB) “Bor” will be to decrease production copper price from current USD 5.040 to 4.500 per ton, "Novosti" reports.

As Blagoje Spaskovski, company GM announced, in the next year, salaries will decrease and all currently unprofitable departments will be shut down.

Spaskovski said RTB "Bor" app. RSD 70.000 but there will be corrections, especially in administration.

When asked whether job positions reorganization is expected, he said everything will be known after KPMG audit report which should arrive in early 2016.

According to him, RTB "Bor" will ask from EPS lower electricity price as well as debt reprogram. The company will also ask from the state help in delaying loan installment which are due.

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