34 people, including 15 millwrights, were given their notices at Gibraltar which Vice President of Corporate Affairs for Taseko mines Brian Battison says is due to the poor performance of copper in the stock market.
“The price of copper has been declining for five years now. In fact since 2011 its gone from about $4.55 US-cents per pound down to $2.31 cents a pound today. So its been on a steady decline for five years”.
Battison adds that during that same five year period Taseko invested $300 million dollars in Gibraltar to make it a state of the art copper mine in the world.
He says if they hadn’t have spent that money the mine would be closed today and some 700 people would be without work.
(Image Courtesy: Taseko)