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Oregon Mining Company Cuts Jobs
A mining company in Coos County says slowing growth in China and economic uncertainty in Europe are behind job cuts that cost 31 of its 100 workers their jobs. The World of Coos Bay reports the chromite mining operation will be cut from seven days a week to four. Output is expected to fall by half.
Oregon Resources Corp. mines the hard mineral chromite for a specialty sand used by factories to create casting molds. It is the primary source of revenue for Australian-based IDM International, the parent company whose chief executive, Wayne Knott, was appointed Monday.
Knott said the company wants to be ready for better economic times and will continue to pursue an agreement with the Coos County commissioners to mine on county-owned land.