Goldcorp (TSX:G) (NYSE:GG) shares were down Monday almost 3% after the Canadian bullion producer announced a controlled shutdown of operations at its Peñasquito mine in Mexico, following an illegal blockade by a trucking contractor that began last week.
The Vancouver-based miner said the contractor was concerned about losing business after recent efforts to diversify its local transportation supply chain.
Goldcorp noted it had taken legal steps, including filing criminal charges against the protesters. It also said it was ready to talk with the contractor’s representatives.
Peñasquito, Mexico’s top gold mine, produced 860,300 ounces of gold last year, or 25% of Goldcorp's total output. It is Goldcorp’s largest operation.
Shares in the world’s third-fourth gold producer by output were down 2.81% in New York to $16.06 at 11:13 am ET. They were trading hands at Cdn$21.05 in Toronto, or 2.77% lower than its closing price on Friday.
More to come…
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