MANAGEMENT

Endeavour cuts production, staff at El Cubo

Canadian precious metals miner Endeavour Silver will cut production in half and furlough about 240 of its workers at the El Cubo mine in Mexico as it continues to explore new reserves that could extend the operation’s life

 Endeavour's El Cubo mine in Mexico

Endeavour's El Cubo mine in Mexico

Officials said, as part of an early review of its 2019 mine plan, it will half its 1,500-tonne-per-day capacity, at higher operating costs than this year. It will still run three shifts per day but said it will transition to one shift daily next year.

Sister mine El Compas in Zacatecas will receive some of El Cubo's idled mining equipment, which will aid in facilitating that mine's 2019 plan.

Endeavour, which first acquired El Cubo in 2012, said it will announce its consolidated production and cost guidance next month.

Located just east of Guanajuato City, the El Cubo mine is expected to produce 2.5-2.7 million ounces of silver and 22,5000-24,500oz of gold for whole-year 2018.

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