After 20 years in operation, the Mesquite Gold Mine is all but closing its doors today because of the low price of gold.
With it comes the layoff of almost 120 workers.
"We mined it to final design," said Robert Harris, Newmont Mining Corp. general manager at Mesquite, adding that expansion plans awaiting permits are predicated on a higher price for gold.
Harris said 16 employees will remain on-site to run heap leach pads to produce gold and that a few workers are being offered employment at a Newmont mine in Nevada.
"They'll continue to get paid for 60 days in lieu of notice," Harris said.
The company is offering out-placement services and will sponsor a job fair in Holtville on June 4.
Harris said the price of gold — trading for about $266 to $279 an ounce — is driven by supply and demand and the strength of the U.S. dollar.