trending Market Intelligence /marketintelligence/en/news-insights/trending/Wk7ix9e5gAe4oz7gEftcCw2 content esgSubNav
In This List

2 men gunned down in Mexico not Torex's workers

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices


2 men gunned down in Mexico not Torex's workers

Torex Gold Resources Inc. refuted recent media reports that identified the two men gunned down in Mexico's southern Guerrero state as striking workers of the company.

The company clarified Nov. 21 that the incident occurred about 15 kilometers from the El Limon-Guajes gold mine and the two men killed in the course of a dispute were not the employees of the miner.

It further noted that there was no strike at the mine, saying it was an illegal blockade.

Operations remain suspended due to a dispute between the union that legally represents the company's workers and the union that wants to represent the workers. The protesting workers want to change their union from CTM to another union.

Torex said it supports the government-sanctioned process for the company's workers to elect their representative union, and will work with whichever union the workers chose.

About 15% of the workforce is participating in the blockade while the remaining unionized workers continue to be paid at a reduced rate, but have been sent home for safety reasons.

The company added that the Labor Board is working to engage the parties to resolve the dispute and select a date for the union vote to take place.

Earlier this month, the company slashed its production guidance to less than 300,000 ounces of gold for the full year, below its previous guidance.