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Closure of Kidd Met to impact 4,400 jobs, $158M in tax revenue: study

The closure of Xstrata's Kidd Mine metallurgical site in Timmins may lead to the loss of 4,428 jobs across the province and $152 million in annual tax revenue to various levels of government, according to a study commissioned by the Timmins Economic
Northern Ontario Business Staff

The closure of Xstrata's Kidd Mine metallurgical site in Timmins may lead to the loss of 4,428 jobs across the province and $152 million in annual tax revenue to various levels of government, according to a study commissioned by the Timmins Economic Development Corporation.

Conducted by Burlington-based Econometric Research Limited, the study shows a loss of 1,162 direct and indirect jobs in the Timmins area, with a total loss of $54.5 million in wages.

The numbers are being used by the CAW Local 599, representing Timmins Xstrata employees whose jobs will be trimmed in May, to further shore up support to prevent local resources from being processed at the company's Quebec facilities.

According to numbers provided by the union, northeastern Ontario lost 17,100 jobs in 2009 and has an unemployment rate of 9.1 per cent, up 5.7 per cent from the previous year.