Moly price drop effects Endako Mine

Summer students and temporary employees laid off just one month after Endako Mine celebrated the opening of the new mill.

Just one month after Thompson Creek Metals celebrated the commissioning of their new mill expansion at the Endako Mine, 29 temporary employees and 28 summer students have been laid off due to falling molybdenum prices.

According to Jocelyn Fraser, director of corporate responsibility for Thompson Creek Metals, Endako Mine won’t be in a position to bring any students back for work this summer.

“We try to hire summer students each year and we will definitely hope to do that again next summer,” she said.

Most of the temporary workers that were laid off had been brought in to help prepare the new mill at the mine for commissioning. “The mill is now up and running,” Fraser said.

“We were sorry to have to let some of our temporary employees at Endako Mine go. They were a good group and although they were only with us a short time, we appreciate the work they did.”

She said there are a number of factors impacting the company right now including falling molybdenum prices, which are down from US $17 from June  2011, to U.S. $13 in June 2012, a 25 per cent reduction in demand from China, the world’s largest molybdenum user and the continued uncertainty in the global economy.

“Each of these factors is outside of our control and drives a need to carefully consider costs. Mining tends to be a cyclical industry and the company is optimistic that the current downturn will be short lived.”

Following the Babine Forest Products tragedy, Endako Mine hired 38 temporary employees on a contract basis.  The original contract was to go until April 30, but was extended until June 30, 2012.

From the 38 employees,  11 were hired full time, eight are still working under a contract basis until Aug. 31, 2012 and of the eight, six  have been approved for full time employment.

Three have found permanent employment elsewhere and 16 have completed their contract and finished work on June 30, 2012.

According to Fraser, there is 400 permanent employees currently working at Endako Mine.


Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Wet’suwet’en checkpoint material remains alongside forest service road

Checkpoint featured in Coastal GasLink pipeline protests

Burns Lake local captures cycle of life

Burns Lake Brian Mailloux captured a photo of this Golden Eagle with… Continue reading

LDAC features Tweedsmuir Fiddlers and Thea Neumann at Burns Lake Community Market

The Tweedsmuir Fiddlers entertained shoppers with their performance two weeks back during… Continue reading

CNC Lakes District Campus in Burns Lake lays off Academic Upgrading faculty

Introduces two new credentialed programs for Fall 2020

B.C. records new COVID-19 death, 85 more cases; Horgan calls on celebrity help

This brings the total number of active confirmed cases to 531 across the province

Horvat scores 2 as Vancouver Canucks beat Blues 5-2 in NHL playoff opener

Game 2 in best-of-seven series goes Friday night

Funding to support early reclamation work at acid leaking B.C. mine

B.C. Government committing up to $1.575 million for Tulsequah Chief Mine site

Teachers to get 2 extra days to prepare for students’ return, now set for Sept. 10

Students will first start with orientation and learn rules of COVID-19 classroom policies

High-volume littering at Cape Scott draws ire from hiking groups

Popular Vancouver Island hiking spot not closing, but frustration about crowding grows

SFU to drop ‘Clan’ varsity team name

The ‘Clan’ name is shortened from ‘Clansmen,’ and was introduced roughly 55 years ago

New Tory leader must build a strong team in Commons and for the campaign: Scheer

Scheer marked his final day in the House of Commons today as leader of the Opposition

B.C. to hire 500 more COVID-19 contact tracers ahead of fall

Contract tracers add an ‘extra layer’ in the fight against the novel coronavirus

Feds commit $305M in additional funds for Indigenous communities during COVID-19

Money can be used to battle food insecurity and support children and mental health

Most Read