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Settles Strike at Its Morococha Mine
posted on
Apr 15, 2009 01:42AM
April 14, 2009
Pan American Silver Settles Strike at Its Morococha Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2009) - Pan American Silver Corp. ("Pan American" or the "Company"), (TSX:PAA)(NASDAQ:PAAS) is pleased to report that last Wednesday, April 8, 2009, the Company and the unionized workers at its Morococha mine in Peru reached a settlement, which ended the strike that had started on April 2. Normal underground mining operations resumed on Friday, April 10, with both the Company and contractor miners reporting to work.
The Company also reports that the repairs to the crack in the primary rod mill, discovered in the course of maintenance activities that were being carried out during the strike, should be completed within the next two days. With the mill repaired, the processing plant should return to full capacity by this coming weekend.
Pan American does not expect the short term production disruption at Morococha to significantly impact its annual production objectives and the Company still expects to produce 21.5 million ounces in 2009, as previously forecast.
