Goldcorp (G-T, GG-N) has started staff reductions at the Red Lake and Campbell mines in Balmertown, Ont., beginning a process aimed at finding economies as the two are combined.
About 40 employees from the two operations received notices on May 25. Campbell had about 430 employees; Goldcorp had a workforce of about 130, plus 420 contractors sinking a new 2,180-metre shaft.
The layoffs were across all departments and fell about equally between the two mines.
Earlier layoffs affected mainly management staff and the total number of positions eliminated in the consolidation of the two mines is now about 60.
Goldcorp, which took over most of the Canadian assets of Placer Dome in a deal with Barrick Gold (ABX-T, ABX-N) that closed May 16, intends to integrate the two mines. Campbell adjoins Red Lake and the two share an orebody, but have entirely separate workings and surface infrastructure. Campbell’s 1,550-tonne-per-day mill is currently operating at about 1,100 tonnes and Red Lake, with the new shaft scheduled to be ready in 2007, may require some mill capacity for arsenious ore that Campbell can handle.
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