TORONTO (miningweekly.com) – Armed robbers stole about 900 kg of gold-bearing concentrate on Tuesday from Toronto-headquartered McEwen Mining’s El Gallo 1 mine, in Sinaloa state, Mexico.
The NYSE- and TSX-listed miner reported that the concentrate contained about 7 000 oz of gold.
McEwen noted that despite the company maintaining insurance against such types of incidents it was working closely with its insurance carrier to determine the extent of available coverage, as the policy would not be enough to cover the entire expected loss.
Mexican authorities were “vigorously” investigating the crime, the company advised.
In 2014, El Gallo 1 produced a record 38 212 oz of gold and 25 912 oz of silver.