Australian miner Sundance Resources has announced that it has undertaken a number of cost reduction measures to ensure the management of its cash position while retaining the ability to move its Mbalam-Nabeba
iron ore project into
production rapidly when market conditions improve.
The company said that, apart from a reduction in the number of board members and a 10 percent cut in the salaries of the managing director and of senior management, the workforce will also be reduced.
Sundance expects a significant reduction in operating expenditure in 2015 thanks to these measures.