Mexican Tycoon Carlos Slim’s largest gold mine shuts down

Carlos Slim Helú.

An ongoing conflict between two rival unions at Mexican billionaire Carlos Slim’s mining company Frisco (PINK:MFRVF) has caused the total, but temporary suspension of El Coronel gold and silver mine, located in the north-central state of Zacatecas, Forbes reports.

Considered Frisco’s biggest mine, El Coronel’s closure was first reported on June 3, but it’s not clear for how long before that the mine had been closed.

Minera Frisco has publicly acknowledged that labour disputes are also taking place at the Maria copper mine and the San Francisco del Oro gold, silver, lead, zinc and copper mine, which the firm recognizes as legitimate strikes over contract renewals.

According to Mexican papers the miners went on a strike due to “violations” to the collective contract, lack of safety measures in the mine as well as sexual harassment against female workers.

Minera Frisco engages in exploration and exploitation of mining claims for the production and marketing of lead-silver concentrates, zinc concentrates, copper concentrates, copper cathode and doré bar (gold and silver).

Image from Wikimedia Commons

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