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Top related persons:
Newmont - 2 Dado Ruvic - 1 Penasquito - 1 Sen - 1 Napoleon Gomez - 1 Andres Manuel Lopez Obrador - 1 Daina Beth Solomon - 1 Valentine Hilaire - 1
Top related locs:
Mexico Mexican Republic MEXICO Zacatecas U.S Ireland Sweden
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National Union of Mine - 2 Metal Workers - 2 Thomson - 2 REUTERS - 1 MEXICO CITY - 1 Companies - 1 London Metal Exchange - 1

Search resuls for: "Mexican Republic"


2 mentions found


☆ Strike ends at major Mexican gold mine after workers pocket 8% raise
  + stars: | 2023-10-06 | by ( ) www.reuters.com   time to read: +2 min
Mexico is a top 10 gold miner, and Penasquito has ranked among its most productive precious metals projects. Both parties agreed to an 8% salary increase for workers, the statements said, a figure below the 10%-20% hike proposed by the union initially. The miner also agreed to pay two months salary to workers if it fails to report profits in the year, the union said. The statements noted that workers will also receive a 152 million peso ($8.3 million) bonus, divided equally among them. In addition to precious metals, Penasquito also produces significant volumes of base metals zinc and lead.
Persons: Dado Ruvic, Penasquito, Newmont, Sen, Napoleon Gomez, Andres Manuel Lopez Obrador, Daina Beth Solomon, Valentine Hilaire, David Alire Garcia, Stephen Coates Organizations: REUTERS, MEXICO CITY, National Union of Mine, Metal Workers, Thomson Locations: MEXICO, Mexico, Mexican Republic, Zacatecas
☆ Exclusive: Newmont declares force majeure on metal products from Mexico's Peñasquito
  + stars: | 2023-06-23 | by ( Pratima Desai Clara Denina | Pratima Desai | Clara Denina | ) www.reuters.com   time to read: +2 min
LONDON, June 23 (Reuters) - Newmont (NEM.N) has declared force majeure on deliveries of some metal products from its Peñasquito mine in Mexico, the U.S.-listed miner told Reuters, citing strike action as a constraint on output. Peñasquito is a major producer of zinc and lead, as well as gold. In a February outlook, Newmont said Peñasquito was expected to produce between 190,510 and 208,654420 metric tons of zinc this year and 77,111 and 86,183 tons of lead. Companies declare force majeure when unexpected circumstances prevent them from meeting contract obligations. "Due to interruptions in production caused by the union strike at Newmont's Peñasquito mine in Mexico, force majeure has been declared with certain customers for some of the mine's products," Newmont said in an emailed statement.
Persons: Newmont, Peñasquito, majeure, Boliden, Pratima Desai, Clara Denina, Kirsten Donovan, Jane Merriman Organizations: Companies, National Union of Mine, Metal Workers, London Metal Exchange, Thomson Locations: Mexico, U.S, Mexican Republic, Ireland, Sweden
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