An illegal work stoppage at La Arena Gold Oxide Mine has been resolved and mining operations have resumed, Rio Alto Mining (CVE:RIO) said on its website today.
The company’s stock was up 2.33% on the news, on lower than average volumes.
Rio Alto explains the results of the last several days of discussions:
“The Company agreed with the La Arena community members to form a number of joint committees to monitor the progress of the undertakings set out in the framework agreement and to improve communication between area residents and the Company to help realize the objectives of the framework agreement. For its part, the community agreed that it members would not cause work stoppages without first entering into a dialogue with the Company to discuss any concerns.”
La Arena 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.
