Grand County Layoffs begin at Henderson Mine & Mill
November 18, 2008
Climax Molybdenum laid off 58 Henderson Mine & Mill employees Monday as part of the companys plans to reduce production by 25 percent, said company spokesman Eric Kinneberg.Forty-one of the employees terminated Monday worked at the mine, while the remaining 17 were employed at the mill, Kinneberg said in a statement.About 100 full-time workers at Henderson Mine & Mill are scheduled to be laid off because of the soft market for molybdenum.There are approximately 150 contract employees at Henderson and 450 at Climax. About 50 Kremmling residents are employed at the mill, Kremmling officials have said.The cuts could also have a ripple effect on the rest of Grand County. Henderson Mine & Mill is one of Grand Countys largest taxpayers and as such contributes heavily to the West Grand School District in particular, Grand County Manager Lurline Underbrink Curran has said.Henderson Mine is located in Clear Creek County near Berthoud Falls, while the mill is in Grand County near Ute Pass. The mill and the mine are about 15 miles apart, and connected through an underground tunnel and the worlds longest conveyor. The mine also is the largest primary producer of molybdenum in the world, according to the company Web site.Slowing demand for molybdenum in the metallurgical and chemicals sectors during October, combined with weak global economic conditions and turmoil in credit and financial markets caused a precipitous decline in molybdenum prices in recent weeks. The Metals Week Molybdenum Dealer Oxide price declined from about $30 per pound in October to $12 per pound on Nov. 10. Katie Looby covers government and education for the Sky-Hi Daily News. You may reach her at 887-3334 ext. 19601 or email@example.com.