Asarco Inc., a U.S. subsidiary of the world's third largest copper miner Grupo Mexico SA, said it will slash production at its Mission mining complex in southern Arizona to 22,000 metric tons a year annually, equal to 15 percent of its peak output four years ago.
Asarco announced Dec. 20, the reduction will also cut output by about 33 percent at its Hayden, Ariz., copper smelter and 13 percent at its Amarillo, Texas, refinery.
"Employment at the affected operations will be reduced according to the adjusted production levels," an Asarco statement said.
The decision to curb output came after Asarco's union workers rejected the company's proposal to temporarily cut wages 15 percent to save the company money.
"We recognize that their contracts are in place and that accepting a reduction would have been a major sacrifice," the Asarco spokesman said. "But we will continue to work with the unions as we try to reduce our costs in order to ensure that we can withstand this prolonged downturn in the copper market." ReutersLatest from Recycling Today
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