UPDATE: A worker tells me Anglo has said no such thing. However, the government did send someone to guarantee workers that they’d still have their jobs after Nov. 11. So, I guess it’s all going according to plan…
Earlier version of story:
Venezuela’s gossip-master extraordinaire Nelson Bocaranda says Anglo American has told Venezuelan mine workers to stay home tomorrow as its nickel mine will be expropriated. I haven’t confirmed that yet, but it would fit with the Venezuelan government’s usual method of avoiding sabotage — always expropriate a bit before the last possible minute.
In other news, a worker writes in to say that the company has been totally closed-mouthed about this whole operation, but that workers knew something was afoot as mine operations halted and the site’s electrical furnaces were cut to minimum power. No metal output in October, according to my source.
Don’t mind if I toot my own horn a bit more in pointing out that readers here knew about Anglo’s departure from Venezuela before they told their own workers. See, the Internet is more than just cat bounces after all.
Oh wow, forget mining & energy, I want to bounce cats.
UPDATE2: I missed this, from Reuters on Friday: Anglo has indeed confirmed the end of metal production at Loma de Niquel and the company’s likely departure from Venezuela.
Loma de Niquel, the Venezuelan ferronickel producer owned by Anglo-American, closed in September as a long-running dispute over the company’s mining concessions comes to a head.
Anglo has warned that unless a deal can be reached before November 10, when its last three concessions expire, “there will be no further production contribution from this operation”.
If that turns out to be the case, it will remove around 17,000 tonnes of annual capacity from the market, a larger hit on supply than any of the cost-related cuts so far announced.
I would dispute his claim that there was any long-running dispute. But otherwise, nice work getting Anglo’s statement.