PRECIOUS METALS

Orvana restarts Orovalle after Spanish truckers' strike

Copper-gold operation was hit by nationwide action

Nathan Richardson
Orvana restarts Orovalle after Spanish truckers' strike

"The company has received the required materials to restart operations and continues to investigate any and all options at its disposal to access the materials required on a timely manner," Orvana said. 

The company is reviewing the impact the stoppage had on the operations and intends to provide a more comprehensive update as part of the second-quarter reporting process. 

The 100% Orvana-owned operation had previously been guided to produce 48,000-53,000 ounces of gold and 5.8 million-6.5 million pounds of copper in FY 2022. 

Truck drivers in Spain launched the protests as part of calls for lower taxes and lighter regulations. 

The strike started on March 14 and was suspended on April 2, Orvana noted. 

"Supply chains are being progressively reactivated, after three weeks of disruptions," the company said. 

Orvana's share price had hit an all-time high of C$0.53 on March 10 before retreating to C$0.415 by April 2. On April 5, it had climbed 7% day-on-day to C$0.445. 

The company had a market capitalisation of C$60.8 million. 

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