Coeur d’Alene Mines’ (CDE) Announces Illegal Employee Disruption Causes Temporary Shutdown at Palmarejo Mine
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A small, unorganized group of employees of a subsidiary of Coeur Mexicana last weekend blocked access to Coeur d’Alene Mines’ (NYSE: CDE) Palmarejo Mine located in the state of Chihuahua in northern Mexico. Palmarejo management supervised an orderly, temporary shut-down of the mine and mill in order to allow for dialogue with employees while ensuring the safety of workers at the mine site. Management considers the actions taken by the small group blocking access to the mine to be illegal.
The small group blocking access to the mine does not represent Palmarejo Mine employees as a whole; however their actions are preventing other employees from safely reporting to work. The group of employees did not raise their concerns with Palmarejo management in any way before blocking access to the mine. Management’s attempts to resolve the issue through discussions were unsuccessful. Mine management has requested assistance from Chihuahuan government authorities to help resolve the situation.
At this time, the Company does not anticipate the temporary shut-down to have a material impact on 2012 production at Palmarejo.
The small group blocking access to the mine does not represent Palmarejo Mine employees as a whole; however their actions are preventing other employees from safely reporting to work. The group of employees did not raise their concerns with Palmarejo management in any way before blocking access to the mine. Management’s attempts to resolve the issue through discussions were unsuccessful. Mine management has requested assistance from Chihuahuan government authorities to help resolve the situation.
At this time, the Company does not anticipate the temporary shut-down to have a material impact on 2012 production at Palmarejo.
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