Excellon says Mexico mine blockade lifted
Sept 10 |
Sept 10 (Reuters) - Excellon Resources Inc said local landowners lifted the blockade at its silver mine in Mexico, allowing workers to enter via the main entrance for the first time in two months.
The Canadian miner, which declared a force majeure at the La Platosa mine in August due to the blockade, said it filed a legal action for damages and termination of the surface rights agreement with local landholders for 1,100 hectares of surface rights.
The blockade at the mine, in the northern state of Durango, began on July 8 when the national miners union said Excellon was trying to impose a more company-friendly union on the workers -- a claim Excellon denied.
The company, which has a market value of about C$100 million, said it aims to resume full production when ordinary course re-opening permits are received.
The company said it has stepped up security at the site to prevent similar blockades.
Shares of the company closed at 36.5 Canadian cents on Friday on the Toronto Stock Exchange. The stock has lost a quarter of its value in the past one month.
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