TORONTO (miningweekly.com) – Primary silver miner Great Panther Silver has paid a fine assessed by Mexican authorities after explosives were stolen from one of the mines at its Guanajuato mine complex.
The company on Friday announced that the fine paid was not expected to materially impact on its financial results, though operations at the mine were again temporarily suspended, until all administrative matters were concluded.
While the Cata plant was also halted, the company did not expect the temporary suspension to affect its 2016 guidance of 4-million to 4.2-million silver equivalent ounces.
Although the Mexican regulatory authority responsible for permitting and regulating the use of explosives had concluded its inspection regarding the theft, Great Panther advised that an internal investigation was ongoing and that the company had already taken several steps to increase security and safeguard its operations against further theft.