Weatherly Says It Will Close Two Copper Mines, Cut 100 Jobs

By Brett Foley

Nov. 19 (Bloomberg) -- Weatherly International Plc, a U.K. copper producer operating in Namibia, said it will close two mines and cut 100 jobs after prices dropped.

The company will close the Tsumeb West and Matchless mines and make 100 workers redundant at its Otjihase and Tschudi mines, London-based Weatherly said in a statement distributed today by the Regulatory News Service.

``This is expected to result in a significant reduction in costs with only a small reduction in overall output,'' the company said. One-off costs associated with closing the mines will be about $2 million, half of which has already been incurred.

To contact the reporter on this story: Brett Foley in London at bfoley8@bloomberg.net