Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canadian silver miner First Majestic Silver Corp said on Tuesday four miners died from gas intoxication at its La Encantada Silver Mine in Mexico.
The accident occurred during the construction of a ramp at the site, the company said, adding there was no explosion.
The men were carrying personal protection equipment, including safety belt breathing apparatuses, but did not use the equipment, the company said.
First Majestic said it expects to resume mining operations on Oct. 4, but will keep the accident area closed until the investigation by Mexican authorities is completed.
(Reporting by Anirban Paul in Bengaluru)
