Advertisement
UK markets closed

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     

  • CRUDE OIL

    82.60
    -0.76 (-0.91%)
     

  • GOLD FUTURES

    2,338.80
    -3.30 (-0.14%)
     

  • DOW

    38,329.15
    -174.54 (-0.45%)
     

  • Bitcoin GBP

    52,008.30
    -1,670.95 (-3.11%)
     

  • CMC Crypto 200

    1,392.82
    -31.28 (-2.20%)
     

  • NASDAQ Composite

    15,648.05
    -48.59 (-0.31%)
     

  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     
Money:

The five essential pieces of financial paperwork you must never lose

Mislaying key documents can cause real headaches, so it’s worth tracking down these most commonly-lost bits of paperwork

Mining company Vedanta plans to cut 1,529 jobs in Zambia

Reuters - UK Focus

LUSAKA, Nov 1 (Reuters) - The Zambian arm of mining company Vedanta Resources (LSE: VED.L - news) plans to cut at least 1,529 jobs by March, the chief executive of the unit said on Friday, as the firm automates its mines in Africa's top copper producer.

"The resultant changes may affect upwards of 1,529 members of our staff," Kishore Kumar, the chief executive of Konkola Copper Mines, said in a statement.

A spokesman for the company confirmed the job cuts would be made by March.

Kumar said that Konkola's annual output of 8 tonnes per employee was "unsustainable" when compared to the global average of 100 tonnes.

Moving to mechanisation and automation for all of its operations would increase productivity, he said.