Tucson-based copper-mining giant Asarco readies to shutter some Hayden operations-Shanghai Metals Market

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Tucson-based copper-mining giant Asarco readies to shutter some Hayden operations

Company News 01:28:24PM Sep 01, 2015 Source:SMM

By Paul Ploumis 31 Aug 2015  Last updated at 11:06:03 GMT

Tucson-based Asarco LLC announced that it will lay off more than 200 hourly workers as it plans to shut down its ore concentrator at Hayden and curtail some other operations.

Tucson-based Asarco LLC announced that it will lay off more than 200 hourly workers as it plans to shut down its ore concentrator at Hayden and curtail some other operations.

According to reports in the Arizona Daily Star, Asarco cited depressed copper prices for its proposed shutdown, as well as a reduction in stripping-for-leaching operations at the Ray Mine in response to a more than 40 percent drop in copper prices since 2011.

“The Company’s cost structure and current market conditions require operational adjustments in order to ensure its viability and sustainability as well as protect its mineral reserves for the longer term,” Asarco said in a news release.

Asarco said a total of 211 hourly positions “may be affected.” The company did not provide information about the exact timing of the layoffs, but under a required 60-day notification Asarco filed with the state and union, the layoffs could start in late October, the Daily Star reported.

Asarco laid off 130 employees from three of its four Arizona sites in March.

Courtesy : www.bizjournals.com


Key Words:  copper   copper mining    

Tucson-based copper-mining giant Asarco readies to shutter some Hayden operations

Company News 01:28:24PM Sep 01, 2015 Source:SMM

By Paul Ploumis 31 Aug 2015  Last updated at 11:06:03 GMT

Tucson-based Asarco LLC announced that it will lay off more than 200 hourly workers as it plans to shut down its ore concentrator at Hayden and curtail some other operations.

Tucson-based Asarco LLC announced that it will lay off more than 200 hourly workers as it plans to shut down its ore concentrator at Hayden and curtail some other operations.

According to reports in the Arizona Daily Star, Asarco cited depressed copper prices for its proposed shutdown, as well as a reduction in stripping-for-leaching operations at the Ray Mine in response to a more than 40 percent drop in copper prices since 2011.

“The Company’s cost structure and current market conditions require operational adjustments in order to ensure its viability and sustainability as well as protect its mineral reserves for the longer term,” Asarco said in a news release.

Asarco said a total of 211 hourly positions “may be affected.” The company did not provide information about the exact timing of the layoffs, but under a required 60-day notification Asarco filed with the state and union, the layoffs could start in late October, the Daily Star reported.

Asarco laid off 130 employees from three of its four Arizona sites in March.

Courtesy : www.bizjournals.com


Key Words:  copper   copper mining