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Troy Mine sees conditions improve

by Canda HarbaughWestern News
| May 21, 2009 12:00 AM

Improved metal prices and continued improvements in productivity has led Revett Minerals to stop issuing 60-day notices to its Troy Mine employees, the company announced Thursday.

“We felt it was time,” said John Shanahan, chief executive officer for Revett. “They’ve worked hard and we’re proud of what’s been achieved there. It’s not a pleasant environment to have that hanging over their heads.”

Revett sent the approximately 180 employees their first notice in December, warning that the mine could temporarily shutdown due to plunging metal prices. Employees have received verbal notices every month since.

In the dark days of December, Revett officials concentrated solely on reducing costs and surviving the month. Now the company has a broader focus.

“I think you could say we’re looking at a much further range,” Shanahan said. “At a minimum, we’re looking into the end of this year and planning for next year.”

Troy Mine workers took a 10-percent pay cut in December, while the wages of corporate employees were cut by 20 percent. The reduced wage is still in effect, as the mine is still in a fragile position.

“It’s something we do review almost on a month-to-month basis, but things still have to improve for that to happen,” Shanahan said. “We’re focusing on staying alive, keeping in operation and keeping everyone employed.”