Employees at Mineral Resources will no longer be allowed to go outside of the office to buy a coffee as it is costing the company too much, according to managing director Chris Ellison.
At a financial results presentation meeting on Wednesday, Ellison said: “I don’t want them walking down the road for a cup of coffee. We kind of figured out a few years ago how much that costs.”
Ellison cited numerous benefits on offer for staff in the office, implying there was no need for them to vacate the site throughout the working day.
“We have a lot of different benefits that we have brought on. Why have I done that? Because when I get them first thing in the morning, I want to hold them captive all day long. I don’t want them leaving the building,” he added.
Mineral Resources also has a strict “no work from home policy”. A day care centre is being built at Mineral Resource’s head office in Perth, which will be big enough to provide care for 105 children. Ellison claimed this allows staff to come in and enjoy work without the threat of distraction.
Ellison’s comments were made at the same time the company revealed disappointing financial results. On 29 August, it reported a 40% decline in earnings and a 79% decrease in underlying net profit after tax of A$158m ($107.4m) for the year ending June 2024, citing a period of enduring low lithium prices.
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By GlobalData
While some other miners have shut mines due to the low lithium prices, Mineral Resources is responding by reducing expenses and withholding dividend payments to shareholders for the first time.
