In the continuing absence of any layoff notices this week, the union representing more than 530 workers at Impala Canada’s Lac des Iles palladium mine continued its wait-and-see approach.
“It’s a fluid situation, so we will keep watching and see what happens,” Steelworkers Local 9422 staff rep Cody Alexander said on Thursday.
“Our goal is to save the jobs,” Alexander added.
Earlier this month, Impala Canada confirmed that the mine that’s run for more than 30 years about 85 kilometres northwest of Thunder Bay will not operate past May of 2026.
“The primary reason driving the plan to cease commercial operations at Lac des Iles next May is palladium prices,” Impala Canada spokeswoman Emily Robb said this week.
“For nearly two years now,” Robb added, “we’ve been in a prolonged period of low prices, and as a result, the business is not generating the cash flow required to sustain the operation despite the team’s strong performance.”
Lac des Iles remains one of the region’s largest employers, with a workforce of 750 when non-union workers are factored in.
On Friday, palladium was pegged at about US$1,250 per ounce, about $300 higher than the precious metal fetched at the beginning of 2024.
Still, demand for palladium, which is primarily used in catalytic converters in gas-powered cars and trucks, is expected to fall as the number of battery-powered vehicles on roads increases.
Last November, the Steelworkers and Impala Canada reached a three-year agreement, giving union members total wage increases of nine per cent.
Alexander said the union has been hearing for some time that the future of the mine is in doubt.
He said he’s wondering if the announcement regarding the May 2026 closure “is more of the same old bull.”
Meanwhile, there has been ongoing speculation that Lac des Iles could keep going if the operation is able to secure an expansion of its tailings pond, where mine-waste material is deposited.
Robb said that speculation is off the mark.
“Given the age of the ore body and the ongoing low price environment, (the decision to close) was based purely on economics,” she said.
She added: “It was a not a decision the company took lightly.”
