Asarco closing Montana mine

About 300 employees will be affected by the temporary closure, planned for April, of the Troy silver-copper mine near Libby, Mont. Mine operator Asarco (NYSE) attributed the shutdown decision to persistent lower metal prices, declining production due to low grades, and the inability to bring into production a new mining project in nearby Sanders Cty.

The Troy mine has operated continuously since 1981, and produced 13,100 tons copper and three million ounces silver last year. Asarco said it will aim to restart Troy “as economic conditions allow.” In the meantime, the company intends to do what it can to accelerate the permitting process for the Rock Creek project.

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