Aurora Energy has shut down uranium exploration in Labrador, Canada, due to weak commodity prices.
The company has also announced plans to close the head office in St. John’s and it will continue to open a work camp and two small offices at the project.
Aurora Energy Labrador affairs vice-president was quoted by Labrador Morning as saying: "They were going to look at doing company-wide restructuring and part of that is looking at areas that are not generating revenue.
"We are an exploration company so obviously it’s an easy one to cut."
Aurora Energy, a wholly-owned subsidiary of Paladin Energy, has rights to 91,500ha within the Central Mineral Belt of Labrador (CMB), which is around 140km north of Happy Valley-Goose Bay and 40km southwest of the community of Postville.
In March 2012, the Nunatsiavut Government had lifted the three year moratorium on the mining, development and production of uranium on Labrador Inuit Land.
Paladin, which has five deposits in these lands, commenced exploration in the summer of same year.