PRECIOUS METALS

Blockade removed from Equinox's Los Filos

Aiming for full operations in December

Staff reporter
 Equinox Gold is aiming to achieve full operations at Los Filos in Mexico again next month

Equinox Gold is aiming to achieve full operations at Los Filos in Mexico again next month

The mine was suspended on September 3 after being blockaded by members of the nearby Carrizalillo community. 

Representatives from Los Filos and Equinox had met regularly with the community leaders to discuss their concerns, the company said.

"With the blockade removed, good-faith negotiations will continue in order to reach final agreement on a few remaining items related to benefits provided under the Carrizalillo social collaboration agreement," Equinox said.

It had gained Los Filos as part of its merger earlier this year with Leagold Mining.

Its sole Mexico operation was also suspended for most of the June quarter due to government-mandated COVID-19 restrictions.

"Workers will resume their duties only after testing negative for COVID-19," Equinox said yesterday.

It recently withdrew Los Filos' 2020 production and cost guidance.

The Ross Beaty-led company last month poured first gold from its seventh operation, the Castle Mountain gold mine in California, and has just started construction at its Santa Luz gold project in Brazil.

Equinox produced 124,687 ounces of gold in the September quarter and ended the period with cash and equivalents of US$310.7 million and net debt of $232.4 million.

Its shares (TSX: EQX) were trading about C$8 a year ago and closed down 0.3% yesterday to $13.62, valuing it about $3.3 billion (US$2.5 billion).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.