Asa Resource Group's 74.73%-owned subsidiary Bindura Nickel Corporation sold 2,852.17 tonnes of nickel in the first five months of the year - a 53% increase compared to the corresponding period in 2015 when1,864.12 tonnes were sold, shareholders at the annual general meeting in Harare were told yesterday.
The meeting was told that after retrenching 300 employees in December 2015, BNC outsourced development services in the mining department to a contractor company, with effect from 1 June.
This has resulted in cost savings worth US$400 000 which would otherwise have been incurred in retrenchment costs. A new culture, anchored on the principle of improved accountability, is emerging.
At 8:54am: (LON:ASA) ASA Resource Group PLC share price was -0.05p at 1.55p