Yukon mine slows operations, announces layoffs as copper prices slump – by Chuck Tobin (Canadian Press/Globe and Mail – January 19, 2016)

http://www.theglobeandmail.com/

WHITEHORSE — Declining copper prices are forcing Yukon’s only hard-rock mine to curtail operations and layoff dozens of workers, says a senior manager.

The Minto Mine, owned by Capstone Mining Corp., is located about 240 kilometres north of Whitehorse and is an open-pit and underground copper operation, producing gold-and-silver byproducts.

Mine manager Ron Light said Tuesday the company plans to stop underground mining at the end of March and will halt open-pit mining in August. He said about 40 contract miners who work underground and are employed by Dumas Mine Contracting will be affected.

If market conditions don’t change by August, 76 jobs for employees who work in the open-pit mine for Pelly Construction would be reduced significantly, he said.

“People are looking at the positive things we can do to reduce costs and keep our head above water,” said Light. “Everybody is doing what they can to get through this survival mode.”

For the rest of this article, click here: http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/yukon-mine-slows-operations-announces-layoffs-as-copper-prices-slump/article28275641/

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