Mass Layoff: Nevada copper mine announces bankruptcy and layoffs.

Photo byChristian ErfurtonUnsplash

Nevada Copper has filed a WARN notice with the state of Nevada, announcing the layoff of 117 workers at its Pumpkin Hollow underground mine in Yerington. The Vancouver, Canada-based company indicated that the mass layoff is expected to be permanent and will commence on August 9. Notably, the affected workers are not represented by a union.

The layoffs follow Nevada Copper's Chapter 11 bankruptcy protection filing in the Bankruptcy Court of the District of Nevada. The company cited its inability to secure funding from key stakeholders as the primary reason for the layoffs and the decision to cease business operations.

Despite the layoffs, Nevada Copper is seeking court approval to continue paying employee salaries during the restructuring period. The company has secured a commitment for $60 million in debtor-in-possession financing to maintain liquidity through this phase.