Asarco to Cut Copper Production and Eliminate About 131 Jobs
2001-11-30 12:10 (New York)
Asarco to Cut Copper Production and Eliminate About 131 Jobs
New York, Nov. 30 (Bloomberg) -- Asarco Inc., a metals
producer owned by Mexico's Grupo Mexico SA, will cut copper
production at two facilities and eliminate about 131 jobs because
of lower copper prices.
The company will reduce copper ore production at its Mission
mining complex near Tucson, Arizona, by 23 percent beginning Jan.
1, spokesman Clay Allen said. Asarco will eliminate about 90 jobs,
or 17 percent of the complex's workforce. Including previous cuts,
production at the mine will have been reduced 61 percent since
November 2000, Allen said.
Asarco has curtailed production of refined copper at its
plant in Amarillo, Texas, by 29 percent, or 95,000 metric tons. It
will also eliminate about 41 positions, or 7.8 percent of the
refinery's workforce.
Asarco has lowered production of refined copper by 151,000
metric tons a year in the past 12 months, Allen said.
The Phoenix-based company is trying to reduce costs to deal
with low copper prices, Allen said. Asarco may consider additional
reductions, he said.
--Rachel Katz in the Princeton newsroom at (609) 750-4653, or at
rkatz3@bloomberg.net/bk |
