Thursday, October 25, 2012

Layoffs Planned at Southeastern Utah Mines

Forty Energy Fuels employees will be laid off from the firm’s Beaver, Daneros and Pandora mines in southeast Utah, the company announced Thursday of last week.

Layoffs at Beaver and Daneros will be effective the end of this month. Employees at Pandora will likely continue working until January or February, Energy Fuels spokesman Curtis Moore said.

The Pandora and Beaver mines are near La Sal. Daneros is 40 miles west of Blanding, about four or five miles south of Fry Canyon.

The layoffs result from low uranium prices, Moore said.

The affected mines will be shut down and placed on “standby” status. A few maintenance workers and managers will stay on site to make sure the mines can re-open quickly if prices improve.

“Energy Fuels is well-equipped to adjust our operations to address market conditions,” company president and CEO Stephen Anthony said in a news release. “Although our Colorado Plateau properties will be placed on standby for the time being, we will maintain these assets with the ability to resume production in a timely fashion upon commodity prices improving.” Moab Times-Independent