Klondex acquired True North mining complex in Bissett in January 2016
The international mining company that owns an eastern Manitoba gold mine will be cutting back operations and workforce at the site effective immediately, according to a Tuesday news release.
Klondex Mines Ltd. announced “an immediate reduction of underground mining operations and workforce” at the True North mining complex near Bissett, Man. — about 165 kilometres northeast of Winnipeg — on its website on Tuesday. “We regret the implications these actions will have on our workforce and other stakeholders but must ensure the long-term sustainability of the Company,” said Klondex president Paul Huet in the written release.
The company acquired the 43,000-hectare complex in January 2016. According to the release, it decided to cut back operations at the mine because it didn’t make as much money as expected in 2017.
“Following an extensive review of recent operational performance at True North, the Company has decided to limit underground mining to areas already developed. Once these areas are depleted, underground mining will be suspended,” the release states.
After the developed areas have been mined, Klondex said the mine will be placed on “care and maintenance status,” at least until metal prices are higher.
For the rest of this article: http://www.cbc.ca/news/canada/manitoba/klondex-gold-mine-bissett-1.4480301