Goldcorp (GG) Resumes Operations At The Cerro Negro Mine
Zacks Investment Research | Mar 14, 2019 09:21PM ET
Goldcorp Inc. (NYSE:GG) has announced that operations in the Cerro Negro mine in Argentina have resumed following a work stoppage.
Notably, the workers representing the Asociacion Obrera Minera Argentina union started a work stoppage from Mar 8, 2019. The provincial government of Santa Cruz issued a conciliation process resolution that was accepted by the parties.
Moreover, all personnel have been remobilized at the site and ramping to normal operations is underway. During the period of conciliation, the company is committed to cooperate with the government officials and employee representatives on a fair and equitable resolution. It will be focused on safe operations, environmental protection along with full permit compliance.
Notably, gold production at Cerro Negro rose 12.3% year over year to 146,000 ounces while all-in sustaining costs (AISC) declined 27.4% to $488 per ounce in the fourth quarter of 2018. The mine also exited 2018 with 4,000 tons of ore mined per day.
Goldcorp’s shares have lost 18.4% in the past year, against the Original post
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