Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Great Panther (NYSE: GPL; TSX: GPR) has suspended mining and processing activities at the Guanajuato and Topia mines in Mexico until April 30 in compliance with the government directive to mitigate the spread of covid-19.
The miner has begun ramping down activities at both mines and will retain only essential personnel during the suspension. Some administrative and technical staff will continue to work from home, the company said.
Great Panther’s Mexican operations combined produced 41,292 gold equivalent ounces in 2019.
Mining and processing operations at the Tucano mine in Brazil continue uninterrupted at this time.
Monthly production from Great Panther’s Mexican operations accounts for approximately 2% of annual consolidated production on a gold equivalent ounce basis, and the company’s Tucano mine accounts for the remainder of production.
There are no confirmed or suspected cases of covid-19 across the company’s global mining operations, projects and corporate offices, it said.
