Reuters reported that mining giant Glencore Xstrata plc (LSE:GLEN) plans to cut 124 jobs at its Namibia-based Rosh Pinah zinc-lead mine. That’s equivalent to 20 percent of the mine’s staff.

As quoted in the market news:

‘The management of Rosh Pinah Zinc Corporation has announced changes that aim to address significant economic pressures,’ Glencore said in a statement.

‘We sympathise and understand that this may be a difficult time for some of our employees and their families. As a result, we have engaged the Chamber of Mines to coordinate the possible appointment (of the staffers losing their jobs) at other mines within Namibia.’

Click here to read the full Reuters report.