Dominion seeks work sharing to avoid layoffs at N.B. mine

Dominion said a 12% reduction in mining costs was not enough to compensate for an 11% decline in world price of antimony which fell recently to about $16(US) per tonne from $18.

The climate for antimony was a major factor in the loss of $225,000 reported by Dominion Explorers during the first nine months of 1989, compared with a loss of $958,000 for the period ended Sept 30, 1988.

The New Brunswick operation last year produced 4,200 tonnes of antimony concentrates, representing more than 6% of the non- communist world’s antimony production.

Dominion said the work sharing program, designed to reduce the mine operations by 60% and to prevent layoffs, is a temporary measure which will be monitored on a month-to-month basis until antimony prices change.

Before the work sharing program was announced, production at the mine was expected to reach 1988 levels. But John Francis, Dominion’s vice-president of finance, said production for 1989 will depend on the length of the slowdown.

Under the program, most of the mine’s 85 employees are working two days a week and receiving unemployment insurance benefits plus a scaled-down wage for the three days they aren’t working.

Meanwhile, the company says it is continuing to explore its property holdings in the Mishibishu Lake gold camp near Hemlo, Ont., and Croinor gold property near Val d’Or, Que. Dominion has raised $250,000 via flow-through financing for exploration on the two properties.

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