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Torex Gold Resources Inc T.TXG

Alternate Symbol(s):  TORXF

Torex Gold Resources Inc. is a Canada-based intermediate gold producing company, which is engaged in the exploration, development, and operation of its 100% owned Morelos Gold Property. The Morelos Gold property covers an area of approximately 29,000 hectares in the prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The Company’s principal assets are the El Limon Guajes mining complex (ELG or the ELG Mine Complex), comprising the El Limon, Guajes and El Limon Sur open pits. The Company also hosts the Media Luna deposit, which is an advanced stage development project located approximately seven kilometers from ELG. The Company’s El Limon Guajes underground mine includes Sub-Sill and El Limon Deep, and processing plant and related infrastructure, and the Media Luna deposit.


TSX:TXG - Post by User

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Post by handyrandy321on Sep 29, 2016 3:36pm
90 Views
Post# 25292117

Blockade at Goldcorp's Mexico mine

Blockade at Goldcorp's Mexico mine

https://ca.news.yahoo.com/protesters-block-access-mexican-mine-owned-goldcorp-165128186--finance.html

MEXICO CITY/TORONTO (Reuters) - Protesters in northern Mexico blocked access to the Penasquito mining complex operated by Goldcorp Inc on Thursday, but the company said operations were unaffected and the issue would be resolved quickly.

Vancouver-based Goldcorp said the blockade was illegal and caused by a trucking contractor concerned about losing business due to efficiency improvements at the mine.

"The blockade is not affecting operations. We have met with the contractor's representatives and expect this to be resolved shortly," spokeswoman Christine Marks said in an email.

The blockade, which includes landowners and truck drivers, began on Monday, Felipe Pinedo, one of the protest leaders, said in a telephone interview. Demands include payment for environmental damages, jobs, and water for their communities, he added.

In late August, Reuters reported on a long-running leak of contaminated water, which had not been disclosed to the public, at the mine, Mexico's biggest gold deposit.

A source close to the company, who requested anonymity because he was not authorized to speak to the media, said the blockade risked interrupting production at the mine, which was operating below capacity. Last year, Penasquito produced 860,300 ounces of gold, a quarter of Goldcorp's total production.

"If the blockade is not lifted immediately, the company will not have material by Saturday," he said.

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