THUNDER BAY — Impala Canada has now confirmed it will reduce the workforce at its Lac des Iles palladium mine north of Thunder Bay.
Ninety-five jobs will be cut in operations and the company's corporate and finance offices, including 59 unionized employees and 36 staff.
This is a little more than eight per cent of the Impala Canada workforce, encompassing employees and contractors.
Job cuts were expected after the company recently informed its employees it was amending its business plan because the market price for palladium has fallen to about half what it was last year.
In a brief statement Tuesday, the company called it a difficult decision and said it was made "carefully in support of our ability to operate in this new price environment."
The statement promised that "LDI will remain a significant mining operation, but our production and investment profile will adjust accordingly. These changes will strengthen our business and allow us to both adapt to the current market, and maintain our presence as a strong community partner."
The company is predicting a prolonged period of lower palladium prices.
But in an email distributed to employees, Impala CEO Tim Hill said that although "the full extent of changes to our investment and production profiles is still being confirmed, this layoff process is now complete."
Hill, who was at the mine for the announcement, said the company had carefully considered all options, and did what it could to complete the restructuring with care and respect for the individuals involved.
