Orla Mining (TSX: OLA) has experienced a landslide at their Camino Rojo Oxide Mine in Mexico. The event reportedly occurred following significant rainfall on site which caused the wall to collapse.
The impacted wall is said to be a temporary north wall of the open pit, with the slide including ore material that was expected to be mined. No injuries or equipment was damaged as a result of the “material movement”, nor was there any environmental damage.
Mining at the pit has been suspended following the landslide, with pit access restricted to technical and operating personnel that are conducting geotechnical assessments. Rainwater diversion channels will be to be re-established at the pit as well to prevent further material from sliding into the pit. Main access to the pit is said to not have been impacted.
Sponsored · Selkirk Copper Mines
Orla is said to currently be assessing the impact the event will have on guidance, while in the interim the operation will continue to crush and stack stockpiled material onto the heap leach pad.
Orla Mining last traded at $16.02 on the TSX.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
