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Sept. 1, the first day of the last quarter of 2015, Copper is selling at $2.31 a pound and 381 mine workers are looking for a new job.
Last week both ASARCO and Freeport McMoRan made announcements that they would lay off workers and reduce production at their operations in the Copper Corridor. The recent crumbling of the stock market in China has reduced the prices for commodities like copper and oil. This has left most investors worried and the trickle down effect of the slump in China has affected the main industry of the Copper Corridor.
ASARCO plans to shut down the concentrator at Hayden indefinitely and will reduce its stripping and leaching output. This reduction affected 211 jobs at the Ray Pit and Hayden operations. Freeport McMoRan will reduce its production and is expected to lay off 170 from Miami pit operations. The rod plant and smelter will not be affected by the reduction as this time.
It is unknown at this time if the majority of those laid off were from the Copper Corridor area or if they were were workers from the metropolitan areas.
Following the announcements of the lay offs, Ray Unified School district announced that anyone with students at RUSD who was affected by the lay offs should go to the cafeteria to apply for the free and reduced lunch program. Pinal County and the Department of Economic Security have many resources to help those who may be looking for assistance during this time.
Mila Besich is a resident of Superior with two children. She volunteers for many local organizations. She is an experienced fundraiser and event planner for Copper Corridor Economic Development Coalition. She covers some of the area town councils and schools.
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