Cost-cutting due to drop in oil price

 RAMU NiCo Ltd is minimising operational costs to successfully deliver its nickel-copper project in Madang.

The company said the drop in global commodity prices was affecting most mining companies that had laid-off workers and reduced procurement.

However the company itself had made a decision to retain its staff and to instead cut on its operational costs.

It has urged its employees to save on necessary costs during the course of their work to ensure the project was delivered during the depressing global mining situation. “We had no choice but worked hard and achieved our target in the first half of the year and urge for the same in the second half while decreasing the operational cost, ensuring compliance operation and maintaining stability of employees to deliver the project,” Ramu NiCo said in a statement.

“Up to now, we still operate because all our employees give the project their full support and understanding.”

It said employees have been asked to save on the use of electricity and company vehicles, to cut down on private telephone calls, recycle used papers, avoid use of company facilities for personal gain while maximising work efficiency to cut down on the costs.

“Be mindful that when other companies are laying off workers, Ramu NiCo is avoiding such action just to keep you (employees) working and having you get paid to support you and your family,” the company statement said. 

“Please make cost saving as your business to help the big family Ramu NiCo go through this challenging time.”