Dynasty Metals& Mining Inc. said July 21 that its Ecuadorian subsidiary,Elipe SA, has enteredinto an agreement with the workers on the Zaruma gold-silver-copper project to return to workafter reaching a resolution last month.
Under the agreement, the workers will be entitled to 20% of allmaterials processed at the mine until all the wages owed have been paid. Thecompany will retain the remaining 80%.
Both parties will also bear all the transportation andmilling costs on the same 80%/20% scale.
Dynasty is entitled to 100% of the materials processed atthe mine once all wage obligations have been paid.
The agreement also states that the company has the right toengage contract workers, with all the material they mine to remain as Dynasty'sproperty.
The agreement was reached after deliberate consultation andnegotiation between the company and the workers, and with the participation ofthe Ecuador Ministry of Labour, following the at the mine in April.