Russian Bauxite miner, Vimetco, has temporarily suspended or scaled down operations for lack of sales of Bauxite in the international market which the company says “has impacted negatively on our cash flow and the company’s ability to run normal operations”.
Junior employees of the company have been urged to stay at home. Their salaries for the month of January 2023 will be paid in full, the company confirmed in a press release.
There are speculations that the company is looking for new investors. Some Chinese and Turkish investors have shown interest in taking over the company. This has not been independently confirmed.
Investigations continue.
