Rescue plan for Tati Nickel mine

The Russian metal giant has lately been hit by a flurry of speculation that it may suspend operations at its Tati Nickel mine, "after a sharp drop in metal prices". The speculation has left employees of the company in panic.This information came at a time when the TNMC management was exploring several strategies that can help sustain the company in view of the difficulties it is currently facing.

Employees have been crying foul that the company had remained mum about their future.A document authored by TNMC acting managing director Sergey Steshenko shows that the mining company is worried by the declining ore grade, high costs of production and lower sales due to BCL smelter outages and declining nickel prices, among others. But it has no immediate plans of reducing staff or closing its operations. Rather it has placed an ambitious turnaround strategy on the table.