JOHANNESBURG (miningweekly.com) Coeur dAlene Mines, the Idaho-based precious metals producer, on Wednesday said it did not believe an illegal strike at its Mexican Palmarejo mine would have a material impact on production.
The company shut the mine and mill, which produced nine-million silver ounces and 125 000 oz of gold last year, after employees blocked access to the operation at the weekend.
The group of disgruntled workers did not raise their concerns with Coeur management before blocking access to Palmarejo, and are not representatives of the mines workforce as a whole, the TSX- and NYSE-listed firm said.
Coeur has around 900 employees at Palmarejo, located in Chihuahua, in addition to some 150 contractors.
The miner said it had asked the local government for help in resolving the standoff.
Shares in Coeur, which also owns mines in the US and Canada, rose 3.3% in Toronto to close at $17.73, as the company benefitted from updrafts that sent North American precious metals stocks rallying.
