Operations resume at Goldcorp's Cerro Negro mine in Argentina
Canada’s Goldcorp (TSX:G) (NYSE: GG) said workers at its Cerro Negro mine in Argentina have returned to work, after an illegal strike at the gold producing operation, the company’s biggest in the South American country.
Mining stopped on March 8, when members of the Asociación Obrera Minera Argentina (AOMA) downed tools, and processing activities also ceased following the exhaustion of surface stockpiles.
The Vancouver-based miner said a conciliation process resolution was issued by the provincial government of Santa Cruz and accepted by the parties, but didn’t provide further details.
“All personnel have been remobilized and the site is ramping back up to normal operations,” Goldcorp said in the statement.
The Cerro Negro underground mine began operations in 2015. It produced 489,000 gold ounces last year at an all-in sustaining cost of $535 per ounce.
Separately, the company said its chairman, Ian Telfer, won’t be joining the board of the merged Newmont-Goldcorp, assuming the planned $10 billion-merger gets shareholder approval next month.
The companies said earlier this year the business combination would create the world’s largest producer by output, challenging Barrick’s recently cemented supremacy.