Updated: 06/02/2014 1:27 PM |
Created: 06/02/2014 10:40 AM
By: Elizabeth Reed, KOB.com
A spokeswoman for the Chevron mine in Questa confirmed Monday that the mine has closed after nearly 100 years in operation.
Spokeswoman Margaret Lejuste said the decision to close the molybdenum mine was made after an extensive review of the mine's long-term economic viability. She said Chevron is giving around 300 employees severance packages and redeployment opportunities.
The company is also working with Workforce Solutions to host job fairs with employers from Taos County and the state of New Mexico.
"Shutting down the Questa Mine was a difficult decision that was based on the mine's projected ongoing financial losses given low molybdenum prices and increased operational costs," said David Partridge, president and CEO of Chevron Mining. "We know that the shutdown affects our dedicated workforce as well as the Village of Questa, and we remain committed to assisting our employees during this transition and supporting the economic growth and stability of the community that we have been a part of for nearly 100 years."
Chevron will continue to put $320,000 a year into an economic endowment fund for the village of Questa for the next eight years.
The cleanup project for the mine will take place over the course of 20 years, Lejuste said.
Stay with KOB Eyewitness News 4 and KOB.com for updates.