Two top McEwen Mining execs step down
Transition plans and a search for CFO and COO are underway.
Transition plans and a search for CFO and COO are underway.
Completing the asset's development would require between $1.2 billion and $1.3 billion, compared to a previous $710 million - $760 million estimate.
Commercial production at Posse gold project, in the central-west Goiás state, is slated to begin in the first quarter of 2024.
Progress at the project, halted since 2017, has sped up in the past year thanks to a fresh deal between Eldorado and Greece.
Shares fell 7% following the suspension of the explosive and blasting permit.
Kinross has agreed to sell its 90% interest in the Chirano mine to Asante Gold in a deal worth $225 million.
Despite the labour issues, the Canadian miner left its production guidance of 460,000-490,000 ounces of gold for 2022 unchanged.
The world’s no. 1 gold company is buying the 5% stake Sumitomo has in the Peruvian gold mine for $48 million.
Reduced cash flow from operations in the first three months of the year left McEwen Mining in a "challenging” position.
The transaction, subject to Moscow's approval, is the first sale of a Western company’s assets in Russia since the start of the war in Ukraine.