Retrenchment at Richards Bay

Insiders say not only did Traxys abandon plans to restart its Richard Bay Alloys charge chrome plant this month, the company also retrenched workers at the 150,000-mtpy facility. Traxys purchased the plant last year for ZAR90-million and also set aside ZAR15-million for retrenchment costs. The plant reportedly has care-and-maintenance costs of of ZAR500,000 per month.


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