Nevada mine shutting down, laying off 117 workers
Nevada Copper is laying off 117 workers at its Pumpkin Hollow underground mine in Yerington.
In a notice filed with the state of Nevada, the Vancouver, Canada-based company said the mass layoff is expected to be permanent and begin on Aug. 9.
The workers aren’t represented by a union.
The layoff is a result of Nevada Copper filing for Chapter 11 bankruptcy protection in the Bankruptcy Court of the District of Nevada on Monday. In a news release, the company said it was unable to secure funding from key stakeholders and is unable to “continue carrying on business.”
Nevada Copper is asking for the court’s permission to continue to pay employee salaries. In the news release, the company said it has received a commitment for $60 million of debtor-in-possession financing to provide liquidity through the restructuring period, though the company said it does plan to close.
Nevada Copper couldn’t immediately be reached for comment.
