snakeyes
Sr. Member
- Joined
- Jan 4, 2007
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- Detector(s) used
- don't laugh viper trident/ E.Trac
- Primary Interest:
- Metal Detecting
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McEwen Mining says robbers stole 7,000 ozs of gold from Mexico mine
McEwen Mining says robbers stole 7,000 ozs of gold from Mexico mine
Tuesday, 7 Apr 2015 | 5:57 PM ETReuters
Armed robbers on Tuesday made off with 7,000 ounces of gold contained in some 900 kilograms of gold-bearing concentrate from McEwen Mining's El Gallo 1 mine in Mexico, the Canadian-based miner said.
No employees were seriously injured nor was there any material damage to facilities at the mine, in the northwestern state of Sinaloa, McEwen said in a statement.
Although the company has insurance against these types of incidents, its policy will not be sufficient to cover the entire expected loss, McEwen said in a statement.
Mexican police are investigating.
Read MoreHere's why it could get way worse for gold
At current gold prices of $1,208 an ounce, the stolen gold would be worth nearly $8.5 million.
McEwen Mining also owns a gold and silver mine in Argentina and other development assets in the Americas. Its chairman is well-known mining executive Rob McEwen, who owns 25 percent of the company's shares.
McEwen Mining says robbers stole 7,000 ozs of gold from Mexico mine
Tuesday, 7 Apr 2015 | 5:57 PM ETReuters
Armed robbers on Tuesday made off with 7,000 ounces of gold contained in some 900 kilograms of gold-bearing concentrate from McEwen Mining's El Gallo 1 mine in Mexico, the Canadian-based miner said.
No employees were seriously injured nor was there any material damage to facilities at the mine, in the northwestern state of Sinaloa, McEwen said in a statement.
Although the company has insurance against these types of incidents, its policy will not be sufficient to cover the entire expected loss, McEwen said in a statement.
Mexican police are investigating.
Read MoreHere's why it could get way worse for gold
At current gold prices of $1,208 an ounce, the stolen gold would be worth nearly $8.5 million.
McEwen Mining also owns a gold and silver mine in Argentina and other development assets in the Americas. Its chairman is well-known mining executive Rob McEwen, who owns 25 percent of the company's shares.
