Pennywise BCL adopts austerity measures

A crippling credit crunch in the latter part of 2008 and depressed global metal prices have brought about an atmosphere of gloom and doom in Selebi-Phikwe as the lifeblood of the mining town, BCL Mine, feels the pinch. In this one-on-one interview, Mmegi Correspondent MQONDISI DUBE talks with Montwedi Mphathi, the General Manager of BCL, to get his views on the depression, recent job cuts and measures the mine will take to keep afloat

Mmegi: 2008 closed on a low note against the background of depressed metal prices and a crippling global financial crisis. BCL is adversely affected.

Mphathi: It is really going to be a tough year with us operating below break even. It means we are losing money and we have to use our cash reserves to keep operations going. Normally you invest in new projects to expand the mine's lifespan.

Editor's Comment
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