78°F
Sponsored by

Shafter Silver Mine Laying Off Half Its Workforce

The Shafter Mine, Presidio County's largest taxpayer, has laid off half its workforce.
PRESIDIO -- The Shafter Mine, Presidio County's largest taxpayer, has laid off half its workforce.

The move comes as the decision was made to shut down the mine until next year.

85 people are out of a job, but they will continue to be paid a portion of their salaries.

Much of this is due to a sharp decline in the price of silver.

In May 2011 the price of silver was hovering around $50 an ounce.

But now analysts predict in 2014 the price of silver will fluctuate somewhere between $17 and $21 an ounce.
Page: [[$index + 1]]
comments powered by Disqus