Cape Lambert Resources defers dividend, cuts staff
Cape Lambert Resources has been forced to postpone its second dividend payment and make 117 employees redundant as part of a cost-reduction program designed to protect it from the crashing iron ore price.
Diversified resources and investment group, Cape Lambert Resources has made 117 employees redundant and postponed a dividend payment to help buffer the company from the sustained lull in the iron ore price and uncertainty surrounding its Marampa project.
Shareholders were expecting a payment of 2¢ per share on February 27 but this has been delayed, with the company blaming the “uncertain time in the iron ore sector".
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