Minera

Newmont Announces End of Strike at Peñasquito Mine in Mexico

Retrieved on: 
Monday, October 16, 2023

On October 13, 2023, Newmont and the Union submitted the Agreement to the Mexican Labor Court, which gave its approval, thus ending the strike.

Key Points: 
  • On October 13, 2023, Newmont and the Union submitted the Agreement to the Mexican Labor Court, which gave its approval, thus ending the strike.
  • “This unnecessary strike has caused significant hardship for all of our employees, contractors, host communities, suppliers and customers,” said Tom Palmer, Newmont’s President and Chief Executive Officer.
  • Newmont will pay employees a fixed amount, roughly equivalent to 60% of wages lost, since the strike began on June 7, 2023.
  • Minera Peñasquito is the second largest employer in Zacatecas, Mexico with a workforce of more than 5,000 individuals.

Royal Gold Provides Update on Peñasquito

Retrieved on: 
Monday, October 9, 2023

Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that Newmont Corporation (“Newmont”) issued a press release announcing that it has reached a preliminary agreement with the National Union of Mine, Metal and Allied Workers of the Mexican Republic (the “Union”) aiming to end the strike initiated by the Union on June 7, 2023, at Minera Peñasquito in the Mexican State of Zacatecas.

Key Points: 
  • Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that Newmont Corporation (“Newmont”) issued a press release announcing that it has reached a preliminary agreement with the National Union of Mine, Metal and Allied Workers of the Mexican Republic (the “Union”) aiming to end the strike initiated by the Union on June 7, 2023, at Minera Peñasquito in the Mexican State of Zacatecas.
  • Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests.
  • As of September 30, 2023, the Company owned interests on 181 properties on five continents, including interests on 39 producing mines and 22 development stage projects.
  • Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” The Company’s website is located at www.royalgold.com .

Newmont Reached a Preliminary Agreement with Peñasquito Mine’s Union

Retrieved on: 
Friday, October 6, 2023

Newmont Corporation (NYSE: NEM, TSX: NGT) confirms it has reached a preliminary agreement with the National Union of Mine, Metal, and Allied Workers of the Mexican Republic (the Union) aiming to end the strike initiated by the Union on June 7, 2023 at Minera Peñasquito in the Mexican state of Zacatecas.

Key Points: 
  • Newmont Corporation (NYSE: NEM, TSX: NGT) confirms it has reached a preliminary agreement with the National Union of Mine, Metal, and Allied Workers of the Mexican Republic (the Union) aiming to end the strike initiated by the Union on June 7, 2023 at Minera Peñasquito in the Mexican state of Zacatecas.
  • The preliminary agreement was ratified by the General Assembly of the Union on October 5, 2023.
  • This preliminary agreement is intended to be formalized into a definitive agreement, which the parties will have to agree, approve, sign, and file with the Federal Labor Tribunal for Collective Affairs in Mexico City for final approval.
  • This process is expected to conclude in the coming days, which would bring the strike to an end and enable the Company to start the execution of the return to work plan to ensure a safe restart of operations.

Royal Gold Provides an Update on Peñasquito

Retrieved on: 
Friday, June 9, 2023

Royal Gold owns a production payment equivalent to a 2.0% net smelter return royalty on all metal production from the Peñasquito mine.

Key Points: 
  • Royal Gold owns a production payment equivalent to a 2.0% net smelter return royalty on all metal production from the Peñasquito mine.
  • Peñasquito contributed approximately 7.2% of total revenue to Royal Gold in the year ended December 31, 2022.
  • Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests.
  • Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” The Company’s website is located at www.royalgold.com .

Newmont Urges Union at Peñasquito Mine in Mexico to Abide by Labor Agreement

Retrieved on: 
Thursday, June 8, 2023

Newmont Corporation (NYSE:NEM,TSX:NGT) announced today it has suspended operations at the Company’s Peñasquito mine in Mexico while refuting claims by the National Union of Mine and Metal Workers of the Mexican Republic (“the Union”) regarding violating legal regulations and labor agreements.

Key Points: 
  • Newmont Corporation (NYSE:NEM,TSX:NGT) announced today it has suspended operations at the Company’s Peñasquito mine in Mexico while refuting claims by the National Union of Mine and Metal Workers of the Mexican Republic (“the Union”) regarding violating legal regulations and labor agreements.
  • The Company urged the Union to abide by the mutually agreed Collective Bargaining Agreement (“CBA”) negotiated and signed by both parties in June of 2022.
  • In response to the strike notice, Minera Peñasquito has suspended operations in a safe and orderly manner.
  • Minera Peñasquito is the largest employer in Zacatecas, Mexico with a direct workforce of more than 5,000.

Golden Minerals Announces Restart of Silver and Gold Mining Operations at Velardeña and Provides Update on Capital Resources

Retrieved on: 
Monday, June 5, 2023

Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) announced today that it plans to restart silver-gold mining operations at its Velardeña Properties located in Durango State, Mexico, subject to the receipt of sufficient capital.

Key Points: 
  • Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) announced today that it plans to restart silver-gold mining operations at its Velardeña Properties located in Durango State, Mexico, subject to the receipt of sufficient capital.
  • Warren M. Rehn, Golden’s President and Chief Executive Officer, stated, “I am very pleased to announce that Golden Minerals’ board of directors has approved plans to restart mining operations at Velardeña.
  • We anticipate that we can start mining operations with minimal initial capital of approximately $0.5 million.
  • Our internal estimate for the net operating margin at Velardeña assumes gold prices average $1,900 per ounce and silver prices average $22.50 per ounce.

Pan American Silver Reports First Quarter 2023 Results

Retrieved on: 
Wednesday, May 10, 2023

Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") today reported unaudited results for the quarter ended March 31, 2023 ("Q1 2023").

Key Points: 
  • Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") today reported unaudited results for the quarter ended March 31, 2023 ("Q1 2023").
  • "Pan American reported solid results for the first quarter of 2023, with adjusted earnings of $0.10 per share," said Michael Steinmann, President and Chief Executive Officer.
  • Pan American's financial position as at March 31, 2023, incorporates the assets and liabilities Pan American assumed through the Yamana transaction.
  • Subsequent dividends to be declared by Pan American are expected to follow Pan American's previous schedule of dividend payments.

Minerva Intelligence Reports 2022 Year End Results

Retrieved on: 
Monday, May 1, 2023

VANCOUVER, BC, May 1, 2023 /PRNewswire/ - Minerva Intelligence Inc. (TSXV: MVAI) (OTCQB: MVAIF) ("Minerva" or the "Company"), a software and data analytics company focused on building decision support tools for climate risk announces its financial results for the 2022 year end.

Key Points: 
  • VANCOUVER, BC, May 1, 2023 /PRNewswire/ - Minerva Intelligence Inc. (TSXV: MVAI) (OTCQB: MVAIF) ("Minerva" or the "Company"), a software and data analytics company focused on building decision support tools for climate risk announces its financial results for the 2022 year end.
  • All amounts are presented in Canadian dollars.
  • Total revenues for the year ended December 31st, 2022, after allowing for discontinued operations, of $104,892 (2021: $268,679)
    Net loss for the year ended December 31st, 2022, of $2.48 million (2021: $2.84 million)
    For full details on Minera's reported results, please go to https://minervaintelligence.com/investors .

First Quantum Minerals Responds to Latest Developments In Panamá

Retrieved on: 
Friday, December 16, 2022

TORONTO, Dec. 16, 2022 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX: FM) issued the following statement today in response to the latest developments regarding the Cobre Panamá mine operated by its subsidiary Minera Panamá, S.A. (“MPSA”).

Key Points: 
  • TORONTO, Dec. 16, 2022 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX: FM) issued the following statement today in response to the latest developments regarding the Cobre Panamá mine operated by its subsidiary Minera Panamá, S.A. (“MPSA”).
  • The Government seeks a refreshed concession contract that does right by the country, its people and its economy, and we believe our proposal achieves just that.
  • We have stated publicly since January that our agreement to this economic benefit should be subject to certain protections in case metal prices or profitability drop significantly.
  • The Minera Panamá contract was renewed in 2017 and remains in legal standing for a period until 2037.

Minera IRL Announces Results of Annual General Meeting

Retrieved on: 
Tuesday, December 6, 2022

LIMA, Peru, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) (FWB:DZX) (OTCQB:MRLLF) is pleased to announce the results of its Annual General Meeting (“AGM”) held Monday, December 5, 2022, in Vancouver, British Columbia, at which the Company’s shareholders adopted all of the resolutions on the agenda.

Key Points: 
  • LIMA, Peru, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) (FWB:DZX) (OTCQB:MRLLF) is pleased to announce the results of its Annual General Meeting (“AGM”) held Monday, December 5, 2022, in Vancouver, British Columbia, at which the Company’s shareholders adopted all of the resolutions on the agenda.
  • Minera IRL Limited is the CSE, BVL, FWB and OTCQB listed holding company of Minera IRL S.A. and Compañía Minera Kuri Kullu S.A., two precious metal mining companies engaged in mining exploration, development, and operations in Peru, with a primary focus on gold.
  • Minera is led by an agile and experienced senior management team with extensive mining industry experience, particularly in South America.
  • Minera operates the Corihuarmi Gold Mine located 5,000 meters above sea level in Central Peru while assessing opportunities to advance its Ollachea Gold Project located in the Department of Puno, Southern Peru.