Teck is likely to sell or seek a partner for Zafranal.

The highlight is an intercept from the Main zone returning 291.5 metres of 0.48 g/t gold, 0.14% copper and 0.95 g/t silver.

The Toronto-based gold miner intends to raise $50 million through the offering of 37.75 million units.

The mine has been out of production since Canada’s Semafo placed it under care and maintenance in 2014 and sold it to New Dawn Mining.

The impact is felt strongly by mining companies dependent on rail to either transport supplies in, or transport products and by-products from operations.

The accidents occurred at the Coricancha mine in Peru and the Guanajuato mine in Mexico.

Lundin has also developed a network of over 300 local suppliers in Ecuador. Since 2017, the company has injected about $61 million into the local economy.