ASARCO Confirms 211 Layoffs Coming to Area

Facebooktwitterredditpinterestlinkedinmailby feather

August 28, 2015. ASARCO LLC a wholly owned subsidiary of Grupo Mexico announced today that due to a greater than 40% decline in copper prices since 2011 and current global market conditions, the Company proposed the indefinite shutdown of its Hayden Concentrator as well as a reduction in its stripping for leaching operation at its Ray Mine.

The Company’s cost structure and current market conditions require operational adjustments in order to ensure its viability and sustainability as well as protect its mineral reserves for the longer term.

The Company has conducted a detailed analysis of each of its operating areas and determined that those that impact its overall cost structures the most are the Hayden Concentrator and Ray Mine.

The Company notified the Union on August 21, 2015 as well as local and State authorities of the proposed indefinite shutdown of its Hayden Concentrator as well as a reduction of its stripping for leaching output at the Ray Mine. A total of 211 hourly positions may be affected. The combined efforts result in a 20% reduction in hourly headcount reducing the hourly employee count to 1,637.

The impact of these adjustments will reduce production by approximately 67 million pounds per year equivalent to the Company’s 17% of total production. This, combined with a $110 million reduction in its capital expenditures for 2015-2016 will improve the Company’s overall costs and free cash flow. Economic conditions will continue to be reviewed and adjustments may be made as market conditions warrant.

The Company looks forward to improved future economic circumstances and maintains its commitment to a sustainable business all for the benefit of its employees, vendors, customers and communities in which it operates.

ASARCO is a subsidiary company of Grupo Mexico with approximately 2,300 employees. The Company is an integrated copper mining, smelting and refining company headquartered in Tucson, Arizona and operates mines, mills and a smelter near Tucson and a refinery in Amarillo, Texas. For more information, visit http://www.asarco.com.

Staff (5776 Posts)

There are news or informational items frequently written by staff or submitted to the Copper Basin News, San Manuel Miner, Superior Sun, Pinal Nugget or Oracle Towne Crier for inclusion in our print or digital products. These items are not credited with an author.


Facebooktwitterredditpinterestlinkedinmailby feather
Facebooktwitterby feather

Comments are closed.

  • Additional Stories

    Ballots arriving now for special election for Mammoth-San Manuel School District

    April 30th, 2021
    by

      Ballots began arriving in mailboxes for registered voters in the Mammoth-San Manuel Unified School District No. 8 School Site […]


    Jenna Martinez-Inzunza awarded Esperanza Award

    April 29th, 2021
    by

      Hayden-Winkelman K-2 teacher Jenna Martinez-Inzunza was recently nominated and awarded a Chicanos Por La Causa Esperanza Award.    She […]


    John Frank Canez

    March 31st, 2021
    by

      John Canez, 62, of Mesa, Arizona entered eternal rest Jan. 19, 2021. He was born July 1,1958 at Williams […]


    Shop at Home: Superior Skincare

    March 31st, 2021
    by

     In April, COVID-19 brought much of Arizona’s economy to a screeching halt. All businesses not deemed “essential” were ordered closed […]


  • Additional Stories

    Shop at Home: Outpaws Pet Grooming

    March 31st, 2021
    by

    In April, COVID-19 brought much of Arizona’s economy to a screeching halt. All businesses not deemed “essential” were ordered closed […]


    Shop at Home: Eddie Tire & Automotive/NAPA Auto Care Center

    March 31st, 2021
    by

    In April, COVID-19 brought much of Arizona’s economy to a screeching halt. All businesses not deemed “essential” were ordered closed […]


    Shop at Home: Pamela Peck, Untangled Hair and My Home Group Realty

    March 19th, 2021
    by

     In April, COVID-19 brought much of Arizona’s economy to a screeching halt. All businesses not deemed “essential” were ordered closed […]


    Shop at Home: Arizona Zipline Adventures

    March 19th, 2021
    by

      In April, COVID-19 brought much of Arizona’s economy to a screeching halt. All businesses not deemed “essential” were ordered […]


  • Copperarea

  • Southeast Valley Ledger