As a result of a cost reduction program at the Quintette mine, the company has permanently dispensed with 63 salaried positions and eight hourly positions. The program also includes a temporary layoff of 52 hourly paid production jobs. Quintette Coal, 50% owned by Denison Mines (TSE), began the cost cutting program as a result of a coal price reduction of more than 25% for production from its mine near Tumbler Ridge, B.C.
The price reduction is currently under appeal.
The company reports that the salaried positions eliminated have for the most part been involved with studies and projects that have been de-emphasized because of their long-term nature. The temporarily laid-off employees are expected to be called back early next year.
The cutbacks are not expected to have an effect on coal production levels.
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