Uranium One, a uranium mining and exploration company, is set to trim down its exploration works at Willow Creek uranium mine reducing its workforce in the wake of low commodity prices.
The company has halted the drilling of additional well fields at the mine located in Johnson and Campbell Counties in the Powder River Basin of Wyoming, US. Besides, the company is keen to focus on uranium production.
The move, meanwhile, has resulted in the layoff of 26 employees including 16 workers at Willow Creek mine and ten support staff members such as geologists, finance and office staff at Casper.
Commenting on the contractions, Uranium One Americas senior vice president Donna Wichers stated that sell uranium at low prices would dent company’s profits grossed by selling uranium at higher prices used to develop additional wells.
Currently, the company has two drilled well fields that are producing and a third half-drilled well, for which it has advised the workers to conclude the work on, added Wichers.
The job terminations is said to be the first instance at Willow Creek mine since its production started in December 2010.
Wichers, however, added that there wouldn’t be any additional layoffs.