Kenya Fluorspar Company suspends operations, sends home hundreds of staff
At least 620 employees stand to lose their jobs after the Kenya Fluorspar Company announced it will be suspending its operations in Kenya come the 30th of April 2016. Staff at all levels will be affected. Arrangement will however be made to ensure all dues are paid in full. The company cited a major fall in commodity prices which has negatively impacted the extractives business around the world. In an ad in the dailies, the company attributes the low demand as a factor leading to their untimely closure. The last six months has seen a dramatic reduction in Fluoprspa prices and thus the company’s operations have become unsustainable in the current market. The firm’s managing director Nico Spangenberg in the statement notes that the company remains committed to the mine and is confident that conditions will change and operations will resume.
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