Finance Finance News Redundancies loom at Cobar mine

Redundancies loom at Cobar mine

Workers at Cobar's Peak Gold Mines (PGM) wanting to take a voluntary redundancy have until this afternoon to take the offer.
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Workers at Cobar’s Peak Gold Mines (PGM) wanting to take a voluntary redundancy have until this afternoon to take the offer.

The company is looking to reduce its production costs and has offered 45 voluntary redundancies to the 400-strong workforce.

PGM’s Environment and Social Responsibility Coordinator, Chris Higgins, says downsizing the workforce is only one of the measures being taken to ensure the mine can sustain its local operation.

He says management will assess the cost-saving ideas put forward by staff this week.

“We’ve got obviously a lot of people in a lot of different departments with a lot of skills and expertise that we definitely want to make the most of,” he said.

”That’s one big thing, so everyone’s putting them down on paper and so that’ll be taken into consideration as to how we’re looking forward as well.”

He says the company has not ruled out making forced redundancies.

Mr Higgins says PGM will have a better idea in the next few weeks what kind of action will be necessary.

“We’re not 100% sure what the voluntary uptake will be, we’re assuming that it probably won’t be up at that 40-45 and so we’ll have to reassess and make some other stronger decisions, harder decisions then.”