North Yorkshire Council says it is working with neighbouring authorities to look at ways of supporting workers affected by lay-offs at Whitby's Woodsmith Mine.
Development of the project is being slowed down by Mining firm Anglo American with significant numbers of workers being made redundant.
Whitby Councillor - Neil Swannick - says its a devastating blow for the area.
Mine owner, Anglo American, is slowing down development work at the site with sixty percent of the projects two thousand workers expected to be laid off.
The council's deputy leader - Gareth Dadd - says discussions with other neighbouring authorities are ongoing.
In a written update North Yorkshire Council Leader - Councillor Carl Les - said:
"The slowdown in drilling operations at the mine is of great concern both to the local economy, but especially to the workers employed there, either by the company itself or its many sub-contractors.
I hope Members are reassured that we the Council will do everything we can, in conjunction with all other agencies and partners, to support workers through this difficult time, and also to provide ongoing encouragement to the company to come back to a position that will benefit not only the local economy but the national one as well."
Anglo American has fought off three unsolicited takeover attempts this year and as a result accelerated a strategic review of the company which was already underway, that review concluded that the companies future should be focused around Iron Ore, Copper and Crop Nutrients with other areas of the business being demerged, spun off in to stand-alone companies or sold.
The focus on Crop Nutrients is good news for the Woodsmith project, which is focused on mining Polyhalite for use in fertilisers, but the company says it's restructuring will put pressure on it's balance sheet hence the slow down in capital expenditure at Woodsmith and slow down in construction works.
- RELATED STORIES : Woodsmith Apprenticeships to Continue Despite Project Slowdown
- RELATED STORIES : Whitby Mine Workforce Expected to Shrink by 60 Percent
- RELATED STORIES : Whitby Mine Slowdown "Significant"
- RELATED STORIES : Woodsmith Mine Investment to be Cut Over Next Two Years
- RELATED STORIES : Anglo American to "Slow Down" Development of Whitby's Woodsmith Mine
- RELATED STORIES : Council Seeks Details of Woodsmith Mine Changes
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