A shortage of skilled miners and low metal prices are affecting silver production at the Elsa Mine, located 500 km north of Whitehorse, Yukon Territory.
The Elsa silver mine, owned and operated by United Keno Hill Mines (TSE) of Toronto, will lay off 50 workers in order to cut chronic operating losses, the company has announced.
President and Chief Operating Officer, J. C. Cowan, says the decision was necessitated by high operating losses resulting from continuing low silver prices and an inability to achieve production targets due to a shortage of skilled miners and tradesman.
Wages of Elsa miner’s are tied to silver prices, which are currently low. Many have left recently, in what can only be described as a boom market for skilled narrow- vein miners in Canada.
Monthly production targets at the Elsa Mine will be reduced from 220,000 oz to 150,000 oz of silver. The company is currently losing between $300,000 and $400,000 per month at its Yukon silver operation.
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