(Bloomberg) -- Vale SA is eliminating positions from its Swiss operations as the Brazilian mining company consolidates its base metals marketing group in Canada.
The world’s biggest iron-ore and nickel miner is cutting about seven jobs from its nickel marketing and sales operations in Saint-Prex, Switzerland about 40 kilometers (25 miles) from Geneva, Cory McPhee, a spokesman for Vale, said in an e-mail.
The reductions are “part of a restructuring in our Base Metals Marketing group, which sees us consolidating our global presence in two key locations -- Toronto and Singapore,” he said. “We are integrating all corporate marketing functions in Toronto as well as Nickel Marketing and Sales for Americas and Europe.”
Vale will continue to employ about 79 staff in Switzerland in human resources, IT and marketing, said McPhee. The Rio de Janeiro-based company’s nickel marketing and sales business for Asia-Pacific remains based in Singapore.
Demand for nickel is running slightly ahead of supply and Vale expects a minor production deficit through the year in the metal used to make stainless steel, the company’s head of investor relations Andre Figueiredo said in August.
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