Great Panther suspends ore mining at Tucano's UCS open pit, expects lower production in 2021
(Kitco News) - Great Panther Mining (TSX:GPR) reported Monday that Tucano's geotechnical committee has advised the companythat additional remediation work is required on the Urucum Central South("UCS") open pit to improve safety factors.
Therefore, the company saidthat mining of ore from UCS has been temporarily suspended and measures arebeing taken to ensure the wellbeing of workers.
"Based on preliminaryinformation from the engineers received on October 16, 2021, additional wastematerial needs to be removed and work has commenced on a new pushback on the westwall of the UCS pit," the company added.
According to the company'sstatement, initial estimates indicate that this additional work will take sixto eight weeks to complete.
The company noted it isconsidering alternatives to accelerate production from other areas at Tucano,but expects consolidated production guidance to be lower than anticipated andcosts to be higher than anticipated as a result of the required work.
Great Panther is a growinggold and silver producer focused on the Americas. The company owns a portfolioof assets in Brazil, Mexico and Peru that includes three operating gold andsilver mines, an advanced development project and a large land package withdistrict-scale potential.
By Vladimir BasovFor Kitco News
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