Gold company Argonaut Gold halts mining operations in Mexico

Published: Apr 02, 2020 10:08 (GMT+8)

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SMM4, March 2: the Deputy Minister for Disease Prevention and Health Promotion of the Ministry of Health of Mexico, Lopez Gatley, announced the suspension of "non-essential activities" in Mexico from March 30 to April 30. The scope of "necessary activities" includes activities directly related to public safety, ensuring the economic operation of the country, and related to people's livelihood. When "necessary activities" are carried out, it should be ensured that the number of people gathered does not exceed 50. Mexico's foreign minister subsequently announced that the number of confirmed cases of the country's new crown pneumonia has exceeded 1,000, and immediately entered a state of national health emergency.

Argonaut Gold, a gold company listed on the Toronto Stock Exchange, said on Wednesday that it would suspend all mining, crushing and stacking activities, which will continue between March 30 and April 30, given that the company operates heap leaching mines.

In addition, for the sake of environmental protection, the company will continue to process the leached liquid.

, Argonaut Gold and Alio Gold had previously been involved in a merger. If the suspension of operations is extended to 45 days, either party can withdraw from the merger.

Argonaut Gold's gold mines, including El Castillo, San Agustin and La Colorada, are all located in Mexico. In addition, the company has two advanced development projects, Cerro del Gallo and Magino, in Mexico and Canada.

It is reported that, like many mining companies, Argonaut Gold has withdrawn its production guidelines for 2020 in view of the great uncertainty about the progress of the epidemic.

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