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Wednesday, December 03, 2008
Chino Mine to Lay Off Majority of Employees
Associated Press
Chino Mine in southwestern New Mexico will lay off three quarters of its employees early next year because of a sharp decline in copper prices.
Chino's parent company, Freeport-McMoRan, announced Wednesday it plans to suspend mining and milling activities at Chino, but will continue reclamation activities and copper production from its SX-EW plant.
About 600 people from the current work force of 830 will be laid off beginning about Feb. 13.
The company says workers not required for the operations will be given paid leaves of absence until they are laid off.
Freeport-McMoRan also plans to reduce mining at its Tyrone Mine in southwestern New Mexico by 50 percent. The company says it's developing plans that will include reducing Tyrone's employee numbers.
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