Jobs slashed at Monto ilmenite mine
MELIOR Resources has axed 18 full-time jobs with a day's notice from the Monto ilmenite mine.
CEO of Melior Resources Mark McCauley blamed the declining ilmenite price for the job losses.
"In conjunction with this, the forecast operational costs for the project going forward are higher than previously anticipated due to delays in completion of the eastern access road," he said.
Melior's board made the tough decision to slow the mine's output and go down to 50% capacity whilst prices remain low.
"Reducing the plant run time unavoidably means reducing our labour force by around half," he said.
Mr McCauley hopes the reduction is temporary.
Thirty three full time staff been kept on and Mr McCauley said they still plan on going to full production in the future.