Investing.com - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Closure of B2Gold's Nicaragua gold mine has cost more than $1 mln

Published 2015-10-05, 09:28 p/m
© Reuters. Closure of B2Gold's Nicaragua gold mine has cost more than $1 mln
BTG
-

MANAGUA, Oct 5 (Reuters) - An extended labor dispute at a
Nicaraguan gold mine owned by Canada's B2Gold Corp BTO.TO has
cost the company more than $1 million to date, the company said
on Monday.
Operations at El Limon Mine, located about 89 miles (143 km)
northwest of the capital Managua, have been closed for 10 days
due to what the company calls an illegal blockade that has
prevented workers and materials from arriving at the site,
company spokeswoman Anne Perez said.
Vancouver-based B2Gold, in a statement, blamed "a small
group of workers, community members, and other persons not
affiliated with El Limon Mine" for the blockade, saying that the
incident is tied to the earlier dismissal of three employees.
If the blockade is lifted and operations resume with "a
timely resolution," the company said it expects to still meet
its production target of 55,000 to 65,000 ounces of gold this
year.
The company added that it continues to work with government
officials and a couple of local unions to reach a solution.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.