- Write by:
-
Tuesday, March 8, 2022 - 12:24:15
-
700 Visit
-
Print
Mining News Pro - Precious metals miners Excellon Resources halted on Monday operations at La Platosa in Mexico, the company’s only producing mine, as unionized workers walked off the job after collective bargaining talks broke down.
The Canadian miner said the national mining-metallurgy union had agreed in principle early last week to the terms of the 2022 collective arrangement following numerous concessions.
“Unfortunately, the agreement was reneged on and, despite our additional concessions, a labour action was ordered,” chief executive Brendan Cahill said in the statement.
According to local paper La Prensa, the strike was in response to Excellon’s refusal to increase workers’ salaries from 2021 levels.
Cahill said La Platosa workers have one of the “most generous compensation structures” in the Mexican mining industry and have benefited from higher metals prices and productivity.
“We hope they also understand the challenges we are facing this year at La Platosa,” Cahill noted.
The CEO was referring to a recently kicked off assessment of the mine’s economic viability beyond mid-2022. Excellon announced in January that theLa Platosa silver, zinc and lead mine, in operations since 2005, was facing a series of issues, including a steepening deposit, de-watering problems, increased consumable prices and legislative changes.
Among Mexico’s highest grade mines
Relations between the company and the mine, its union and locals have soured at times, with Excellon having to declare force majeure in 2012 due to a sustained illegal blockade. The impact of the strike, triggered the exit of the company’s financial officer.
La Platosa, in the state of Durango, is one of Mexico’s highest grade silver mines. Mineralized material is processed at the 800-tonne-per-day Miguel Auza mill, 200 km to the south in Zacatecas.
Excellon believes there is significant potential for additional strata bound deposits in the area around La Platosa mine, which produced 2 million ounces of silver equivalent last year.
The company’s other asset in Mexico, the Evolution deposit in Zacatecas, which is adjacent to the Miguel Auza mill, ceased mining in 2008. The company is also examining this property for potential new mining targets.
Short Link:
https://www.miningnews.ir/En/News/620836
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Zinc traded close to a one-year high as metals markets looked past delays to US monetary easing to focus on looming ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
Australia’s Fortescue said on Monday it would form a joint venture with OCP Group to supply green hydrogen, ammonia and ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Mining News Pro - The ceremony of commemorating the tree planting day and the beginning of the afforestation project and ...
No comments have been posted yet ...