EDMS feeling the pinch

The Cobar-based company said it has been negatively impacted during the current quarter due to falling commodity prices.EDMS was impacted by the scaling back of CBH’s Endeavor mine and Perilya’s Broken Hill South operations, as well as the deferral of underground exploration at Glencore’s CSA copper project and, as of yesterday, the closure of the Eloise copper mine near Mt Isa.At the company’s annual general meeting in early November, the company said it was reducing its workforce to counteract the downturn.Today, EDMS said reducing cash costs had resulted in “substantial” headcount reductions which are continuing.The company currently has around 150 employees.EDMS has five surface rigs in the coal and coal gasification sector, with a further two due to be mobilised next week.The company said despite the downturn, its labour hire, pumps and contracting divisions continue to perform well.

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