Mohave County mine laying off hundreds of workersPosted: Updated:
LAKE HAVASU CITY, Ariz. (AP) -- A financially troubled copper mine in Mohave County is laying of hundreds of workers.
The Today's News-Herald newspaper reports that the Mineral Park mine near Kingman sent layoff notices to more than 350 workers on Monday.
Human Resources Manager Steve Lawson says the reductions will be phased in over eight weeks as operations are curtailed.
The mine is to be placed in what is called "maintenance and care" mode so it can be put back into production if the company's financial situation improves.
The company has been attempting to sell the mine but a possible sale fell through.
Statement from Mineral Park Mine:
Mineral Park Mine Initiates Operations' Curtailment
Monday, December 29th Mineral Park, Inc., (the "Company") announces that mining and milling operations at the Mineral Park Mine thirteen miles North of Kingman, AZ will be immediately curtailed. As part of this process the mining and milling operations will be temporarily suspended and placed in care and maintenance status; however, the heap leach operations are expected to continue. Curtailment activities are expected to continue into January 2015 and will comply with environmental and applicable regulations and preserve the opportunity for operations to resume.
The Company entered into Chapter 11 bankruptcy protection in August 2014. Options are limited at this point due to market conditions and the reduced commodity price environment. This curtailment is the only option available at this time said Mark Distler, Chief Financial Officer. The Company would like to express its appreciation for all of the support and hard work from the employees, contractors, advisors, vendors and the local community. At this time, it is uncertain when full-scale mining and milling operations will recommence.