Endeavour Silver Shares Fall as Local Protest over Community Rights Suspends Mexico Mine Operations

Dow Jones08-17 22:59

Shares of Endeavour Silver fell after the company suspended operations at its Terronera project in Mexico, where local community members organized a peaceful demonstration to demand investments in water access, healthcare and infrastructure.

Shares fell 3.2% to 14.29 Canadian dollars ($10.30).

The Vancouver, British Columbia-based miner said Monday that its operations at Terronera have been suspended since Aug. 12.

The Terronera Mine is located in the mountainous region of San Sebastián, a historic mining district in Jalisco State, about 160 kilometers west of Guadalajara and 50 kilometers northeast of Puerto Vallarta.

The suspension was caused by members of the nearby Ejido community who have organized themselves and blocked access to the Terronera site, demanding proper road maintenance, assistance with medical services and communications, as well as control and access to water supply and increased financial assistance.

The community has remained peaceful, orderly and respectful, and the company said that it continues active discussions with Ejido community leaders.

Endeavour said that it has the ability to initiate legal action against the peaceful protesters and pursue all available legal means if operations remain compromised.

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