HOME PAGE SUBSCRIPTIONS, Print Editions, News Bulletin PRODUCTS READ MINING NEWS ARCHIVE ADVERTISING EVENT READ THE PETROLEUM NEWS, EXTENSIVE ARCHIVES!

Providing coverage of Alaska and Northwest Canada's mineral industry
June 2015

Vol. 20, No. 23 Week of June 07, 2015

Mining News: Northern Neighbors: Temporary layoffs for Cantung miners

North American Tungsten Corporation Ltd. June 1 reported a series of temporary layoffs of employees at the Cantung mine in western Northwest Territories over a six-week period of time. The company said depressed tungsten prices have had a significant negative impact on operating results during 2015 and operating results have been negatively impacted by a number of operational issues over the past month, the most significant being a power supply issue over the past five days that resulted in the inability to produce any product during that period of time. North American Tungsten believes power supply issues will be resolved this week. The company has implemented cost-savings measures, including the temporary layoff of about 80 employees, primarily in mining-related activities. Given the standard rotational schedule, each employee will miss one work rotation of three weeks. The company believes that it has sufficient accessible tungsten ore and ore stockpiles available to continue to operate the mill and ship product to its customers throughout the layoff period. Management will continue to evaluate and implement measures to minimize capital expenditures and reduce expenses in the near term.

- Shane Lasley






Mining News North - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.miningnewsnorth.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (North of 60 Mining News)(Petroleum News Bakken)(Petroleum News)(PNA)2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.