Red Lake, Ont., seeks to reload after layoffs at Rubicon Minerals

The mayor of Red Lake, Ont., says job cuts put forward by Rubicon Minerals is a blow to the local economy.

The layoffs announced Tuesday, which have been described as temporary, will leave 330 workers without a job.

Mayor Phil Vinet saidthose labourers were making a respectable wage that will be felt by the town of 5,000 people.

• Rubicon Minerals lays off 330 employees
• Red Lake area running out of power for mines
• Mining towns in Ontario feel shortchanged

He also addedanyone who's been watching the stock market over the past year can see the market is becoming less in love with gold.

"When you boom, you boom. And when you bust, you just flat out bust," saidVinet.

But the peaks and valleys of mining should not be new to any residents of his northern Ontario community.

"In Red Lake,we don't think of this as the end of the world, we just think it's an opportunity to reload."

The mayor saidhe's been in communication with officials at Rubicon, which will continue in the days ahead.