MEXICO – Thieves have made off with 900 kg of gold-bearing concentrate from the El Gallo 1 mine in Sinaloa, said owner McEwen Mining of Toronto. The concentrate contained about 7,000 oz of gold that at today's price is worth upwards of US$8.4 million.
The El Gallo operation includes an open pit mine and heap leaching facility. El Gallo 1 poured its first gold bar in September 2012, reaching commercial production by the end of the year. In 2014 the mine produced 38,212 oz of gold and 25,912 oz of silver.
No employees were seriously hurt during the incident. The mine and mill continue to operate normally while Mexican authorities investigate the theft.
The company said it has insurance for these types of incidents, but it is not sufficient to cover the total loss.
Learn more about McEwen's operations in Nevada, Mexico and Argentina by visiting McEwenMining.com.
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