Alexco Resource (TSX: T.AXR, Stock Forum) late Friday announced that it is implementing several cost cutting measures in response to the recent trend of decreasing silver and zinc prices, this according to a company news release.
Measures include workforce reductions, a capital projects roll-back, vendor discussions, deferral of new mine commissioning, and executive salary cutbacks, which are all part of the company’s plan to offset expected decreases in revenue due to lower metals prices.
Alexco added that guidance on silver production for 2013 remains unchanged.