January 10, 2017 / 6:42 PM / 2 years ago

Operations at Yamana gold mine in Chile suspended late last week

Jan 10 (Reuters) - Operations at Canadian miner Yamana Gold Inc’s El Peñón mine in northern Chile were suspended “late last week” after underground workers rejected the company’s final offer and one of two unions went on strike, a company spokesman said on Tuesday.

El Peñón is Yamana’s second biggest gold mine by output. It produced 164,445 ounces of gold in the first nine months of 2016, equal to about 17 percent of the company’s gold output.

A company spokesman said he could not immediately be more specific about when operations were shut down.

Yamana late on Monday announced that operations at El Peñón had been shut down but did not say when. It also said that striking workers had been picketing, had set up road blockades and damaged some equipment.

Asked if further talks with the unions were planned, the spokesman said Yamana was “committed to reaching a resolution.”

The Toronto-based company also said it had reached collective bargaining agreements with workers at its Minera Florida operation, also in Chile, and that the mine and plant were operating at full capacity.

Shares in Yamana were down 0.5 percent at C$4.17 on the Toronto Stock Exchange, in line with other gold stocks.

Reporting by Nicole Mordant in Vancouver; Editing by Marguerita Choy

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below