Chilean armoured car services strike delays Cerro Grande gold shipment
TORONTO (miningweekly.com) – Strike action by employees of Cerro Grande Mining’s primary armoured car services provider in Chile, as well as other operators, has caused the company’s last shipment of gold doré to be delayed, which is expected to adversely impact the company’s fiscal third quarter.
The shipment was expected to account for up to 60% of the company's quarterly revenues.
Cerro Grande said its main operator usually took full responsibility for the security of the gold doré on receiving it at the mine site. Once the gold doré had been transported to Santiago, it was sent by air to Argor Heraeus, in Mendrisio, Switzerland, which refined the doré into 99.9% pure gold bars.
The strike was partially terminated on June 1, but the company advised that the partial settlement of the strike could further impact its shipments.
Cerro Grande was a gold/copper-producing company focused on operating its Pimenton mine, as well as acquiring, exploring, evaluating and developing new gold, copper and industrial mineral properties in central Chile.
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