FVI:CC - Fortuna Silver's San Jose mine halted by worker blockade
2023-05-02 09:41:45 ET
Fortuna Silver Mines ( NYSE: FSM ) said Tuesday operations at its San Jose mine in Mexico have been temporarily halted as a group of union employees, representing 15% of the mine and plant workforce, have blockaded access.
Fortuna ( FSM ) said the blockade occurred after the group disagreed with the estimated amount the company plans to distribute among the workforce as part of a profit-sharing entitlement, which is payable in accordance with Mexican legislation.
The company said the protesters are demanding an increase in profit-sharing participation beyond what is stipulated by law.
The San Jose mine, which produced 1.3M oz of silver and 8.2K oz of gold in Q1, is the single largest employer in the Valles Centrales region and provides direct employment to more than 1,200 people.
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Fortuna Silver's San Jose mine halted by worker blockade