Job cuts at Morrison Mine
Reports say Polish mining company KGHM is cutting 22 jobs from its Morrison Mine operation in Levack. Company and union officials say the layoffs are due to low mineral prices. The workers are represented by Steelworkers Local 2020. Nickel prices have been up and down over the past year, touching US$7 a pound about six months ago, before dropping to below $5 a pound at times in recent months. On Friday, it was selling for about $5.1 a pound. Analysts are predicting stronger nickel, copper and other metal prices due to increased demand for electric vehicles. Those metals are important components in the batteries that power electric vehicles. KGHM has a number of Sudbury operations, including McCreedy West Mine and the Victoria Mine project.