Vale shuts St. John's exploration office, 4 jobs cut
'It's simply a matter of navigating our way through these turbulent times,' says Cory McPhee
Vale is shutting down its St. John's exploration office and the company is blaming the economic downturn.
We have to find new ways of doing things...and sometimes good people are impacted.- Cory McPhee, Vale's vice-president of corporate affairs
The closure means at least four employees are out of a job.
"We have to find new ways of doing things and, the unfortunate aspect of this is that, sometimes good people are impacted," said Cory McPhee, Vale's vice-president of corporate affairs.
"But it's simply a matter of navigating our way through these turbulent times."
Voisey's Bay is priority
The company is shifting more focus to the Voisey's Bay mine site in northern Labrador.
"So it's better defining the ore deposits and trying to extend the life of the mine...that's clearly where our focus is," said McPhee.
He said the move will hopefully "streamline" operations in what he described as ongoing tough times.
"It should allow us to manage things more efficiently, but it's absolutely connected to the current economic state," McPhee said.
"We are in a prolonged trough as far as current metal prices go. It's one of the longest and most enduring that I can recall."