Fortuna reports an illegal blockade at the San Jose Mine, Mexico
02 May 2023 - 10:36PM
Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI)
reports that a small group of union employees, representing 15
percent of the mine and plant workforce, have illegally blockaded
access to the San Jose Mine. As a result, operations at the
mine have been temporarily halted.
The illegal blockade arose after this group of
workers did not agree with the estimated amount the Company is to
distribute among the workforce as part of the worker's profit
sharing entitlement. Profit sharing is a transparent calculation
and is payable in accordance with Mexican legislation. The
blockaders demand the Company increases profit sharing
participation beyond what is stipulated by law.
The Company is engaged in dialogue with the
union leadership in an open and constructive manner to have
employees return to work and for operations to resume as soon as
possible.
For over a decade, the San Jose Mine has been
the single largest employer in the region of Valles Centrales and
provides direct quality employment to over 1,200 people.
About Fortuna Silver Mines
Inc.
Fortuna Silver Mines Inc. is a Canadian precious
metals mining company with four operating mines in Argentina,
Burkina Faso, Mexico and Peru, and a fifth mine under construction
in Côte d'Ivoire. Sustainability is integral to all our operations
and relationships. We produce gold and silver and generate shared
value over the long-term for our stakeholders through efficient
production, environmental protection, and social responsibility.
For more information, please visit our website.
ON BEHALF OF THE BOARD
Jorge A. GanozaPresident, CEO,
and DirectorFortuna Silver Mines Inc.
Investor Relations:
Carlos Baca |
info@fortunasilver.com | www.fortunasilver.com |
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Forward-looking Statements
This news release contains forward-looking
statements which constitute “forward-looking information” within
the meaning of applicable Canadian securities legislation and
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995 (collectively, “Forward-looking Statements”). All
statements included herein, other than statements of historical
fact, are Forward-looking Statements and are subject to a variety
of known and unknown risks and uncertainties which could cause
actual events or results to differ materially from those reflected
in the Forward-looking Statements. The Forward-looking Statements
in this news release may include, without limitation, statements
about the Company’s plans for its mines and mineral properties; the
Company’s business strategy, plans and outlook; the merit of the
Company’s mines and mineral properties; production at the mines;
the duration of the illegal blockade at the San Jose Mine; the
timing for the re-commencement of operations at the San Jose Mine;
the future financial or operating performance of the Company; the
effects of laws, regulations and government policies affecting our
operations or potential future operations; future successful
development of our projects; the estimates of expected or
anticipated economic returns from the Company’s mining operations
including future sales of metals, doré and concentrate or other
products produced by the Company and the Company’s ability to
achieve its production and cost guidance; approvals and other
matters. Often, but not always, these Forward-looking Statements
can be identified by the use of words such as “estimated”,
“potential”, “open”, “future”, “assumed”, “projected”, “used”,
“detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”,
“anticipated”, “estimated” “containing”, “remaining”, “to be”, or
statements that events, “could” or “should” occur or be achieved
and similar expressions, including negative variations.
Forward-looking Statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any results, performance or achievements
expressed or implied by the Forward-looking Statements. Such
uncertainties and factors include, among others, the duration of
the illegal blockade at the San Jose Mine; the timing for the
re-commencement of operations at the San Jose Mine; the ability of
the Company to negotiate with the union a return to work of
employees at the San Jose Mine; changes in general economic
conditions and financial markets; the effects of inflation on the
costs of operations; the risks relating to a global pandemic,
including the COVID-19 pandemic, as well as risks associated with
war or other geo-political hostilities, such as the Ukrainian –
Russian conflict, any of which could continue to cause a disruption
in global economic activity; fluctuation in currencies and foreign
exchange rates; changes in prices for silver, gold and other
metals; technological and operational hazards in Fortuna’s mining
and mine development activities; risks inherent in mineral
exploration; fluctuations in prices for energy, labor, materials,
supplies and services; uncertainties inherent in the estimation of
mineral reserves, mineral resources, and metal recoveries; changes
to current estimates of mineral reserves and resources; changes to
production and cost estimates; our ability to obtain all necessary
permits, licenses and regulatory approvals in a timely manner;
governmental and other approvals; political unrest or instability
in countries where Fortuna is active; labor relations issues; as
well as those factors discussed under “Risk Factors” in the
Company's Annual Information Form. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in Forward-looking Statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended.
Forward-looking Statements contained herein are
based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the illegal blockade
at the San Jose Mine will be lifted in a timely manner; that
operations at the San Jose Mine will re-commence in a timely
manner; ore grades and recoveries; prices for silver, gold and base
metals remaining as estimated; currency exchange rates remaining as
estimated; capital, decommissioning and reclamation estimates;
prices for energy, labour, materials and supplies, transport and
services; the duration and impacts of COVID-19 on the Company’s
production, workforce, business, operations and financial
condition; that there will be no material adverse change affecting
the Company or its properties; that all required approvals will be
obtained; that there will be no significant disruptions affecting
operations and such other assumptions as set out herein.
Forward-looking Statements are made as of the date hereof and the
Company disclaims any obligation to update any Forward-looking
Statements, whether as a result of new information, future events
or results or otherwise, except as required by law. There can be no
assurance that Forward-looking Statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
investors should not place undue reliance on Forward-looking
Statements.
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