Torex Gold To See Production Resume At Morelos Complex
Operations are set to restart at Torex Gold’s (TSX: TXG) Morelos Complex in Mexico, following the Director General of Mines under Mexico’s Federal Ministry of Economy lifting the temporary suspension of operations. The suspension had been put in place following an incident that saw three workers killed due to carbon monoxide poisoning at the underground mine.
“As we ramp up operations and work to conclude our Media Luna Project, we will never forget the tragic loss of three of our colleagues at ELG Underground and will work with strengthened resolve to ensure the safety and well-being of everyone in our workplace now and in the future,” commented Jody Kuzenko, CEO of Torex.
Torex has stated that its full year 2024 guidance is not impacted by the temporary shutdown, although production for the year is now tracking towards the lower end of guidance. The company is currently guiding to a range of 450,000 to 470,000 ounces of gold production for the year.
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A four-week processing plant tie-in at the Media Luna site is also still on pace to be completed in February.
“With the suspension lifted, our employees and contractor partners can get back to meaningful and productive work as we complete our own internal investigation,” continued Kuzenko.
Torex Gold last traded at $27.11 on the TSX.
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