Louvicourt - Duck Pond - LeMarchant (Leave the equipment) Jan 24, 2014 CBC
The mayor of Buchans says Teck Resources' Duck Pond mine, the island's largest underground mine, is shutting down.
Derm Corbett said Teck officials told him on Thursday that the mine would be depleted by 2015.
The copper and zinc mine, which is located near Millertown in central Newfoundland, officially opened in 2007.
Corbett said the mine employs more than 300 people, many of whom are from the central area.
"Very good jobs, very good salaries, and of course that money has been making its way back into the community for the past number of years, and they are going to be missed, no question about that," said Corbett.
He said while it is sad news, undoubtedly the employees will secure work elsewhere.