- Write by:
-
Tuesday, November 17, 2020 - 12:57:35 PM
-
834 Visit
-
Print
Mining News Pro - Equinox Gold Corp. reported on Monday that the community blockade at its Los Filos mine in Mexico has been removed.
Los Filos has begun a staged restart and is working toward achieving full operations in December. Workers will resume their duties only after testing negative for covid-19, the company said.
The protesters claimed that Equinox had a racist and discriminatory attitude against the residents and had also violated clauses of the contract related to the protection of their health and the environment.
Members of the community said that 21 workers have been infected with covid-19 in the last months, some of whom have died.
The company said it remains in negotiations to reach a final agreement with the community on a few remaining issues related to benefits provided under the Carrizalillo social collaboration agreement.
“Although the blockade has been a setback, we fully expect the company to resume activities on the Los Filos expansion (development of the higher grade Guadalupe pit, the Bermejal underground, and construction of a CIL plant),” BMO Capital Markets said in a note.
According to company files, Los Filos has a 20-year mine life (2019-28), during which 3.2 million ounces of gold are expected to be recovered.
Equinox said from 2021, average annual output will be 350,000 ounces, and that number will rise to 420,000 ounces going forward until 2024.
Midday Monday, Equinox’s stock was down 1.2% on the TSE. The company has a C$3.26 billion market capitalization.
Short Link:
https://www.miningnews.ir/En/News/608380
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
India is in talks with several countries seeking partnerships for technical help on lithium processing, said four ...
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Ghana Mine Workers Union is demanding the termination of the mining lease of Future Global Resources Ltd. because the ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
No comments have been posted yet ...