TORONTO (miningweekly.com) – TSX Venture Exchange-listed Apogee Minerals has halted production at its La Solucion silver/lead/zinc mine, in Bolivia, after low metals prices, declining grades and high costs rendered the operation unprofitable.

The company said that smelting costs and taxes had both increased year-on-year.

The company is in discussions with union representatives and with Bolivian Ministry of Mines officials to “review best alternatives for the future of the operation”, the company said, without providing any further details.

Apogee joins an increasing number of firms that have announced plans to curtail production or delay projects in response to slumping prices and frozen credit markets.

For a list of companies that have announced cutbacks as a result of the financial crisis and commodity-price declines click here.

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