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BUSINESS BRIEFS

Iron ore mine sends workers home

THE SIDERIT iron ore mine in Banská Bystrica region's Nižná Slana has sent most of its 880 workers home, as its parent company Želba remains in preliminary bankruptcy proceedings. The mine is expected to announce 260 permanent layoffs soon, with more to follow. The situation arose after US Steel Košice cancelled a supply contract for about 85 per cent of Siderit's annual 440,000 tonne production. Although a new one-year deal was signed at the end of March for 210,000 tonnes at a 20 per cent price cut, Siderit has no replacement customers, and found itself in crisis.

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