Rio Alto Mining suspends mining at La Arena due to work stoppage
Rio Alto Mining (CVE:RIO) said that an illegal work stoppage at La Arena Gold Oxide Mine forced it to suspend mining operations.
The company’s stock opened down 6.82% to $2.46.
The company, issuing a statement on Thursday, says that it is in discussions with government representatives, community groups and others to resolve the issue.
Rio Alto’s expect that gold production will be affected, and will provide investors with new guidance once work resumes.
La Area is located in north central Peru, close to Barrick Gold’s Laguna Norte Mine and Newmont’s Yanacocha Mine.
La Arena, which began gold production in May, has an indicated resource of 2.8 million ounces gold and 1.7 billion pounds copper.
Image by Miradas.com.br of a protest march in Cusco