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Mining.com reported today that Vale (NYSE:VALE) is shutting down its Integra Mine Complex in Australia. The closure will result in 500 job losses, and has come about since Vale says that the operation is not economically feasible, according to Mining.com.
Mining.com reported today that Vale (NYSE:VALE) is shutting down its Integra Mine Complex in Australia. The closure will result in 500 job losses, and has come about since Vale says that the operation is not economically feasible, according to Mining.com.
As quoted in the publication:
The affected mines are the underground Glennies Creek and the Camberwell open cut, operated by subsidiary Integra in NSW Hunter Valley. According to Newcastle Herald, employees were told that while operations would be shut down, facilities would be maintained.