Update On The Resumption Of Operations At The Carmen de Andacollo Mine
DENVER, CO - Royal Gold, Inc. reported that Teck Resources Limited provided an update on the resumption of operations at its Carmen de Andacollo operation in Chile. Teck reported that the Andacollo Workers Union ratified a new 36-month collective agreement. The benefits of the agreement are effective and operations at Andacollo have resumed. As previously reported by Teck, operations, with the exception of essential activities to maintain safety and the environment, were suspended when the Workers’ Union commenced strike action on October 14, 2019.
Gold production from Andacollo contributed approximately 55,000 ounces and 16.4% of total revenue, to Royal Gold in the fiscal year ended June 30, 2019. The impact of the strike on Royal Gold is expected to be reflected with the June 2020 quarterly results, as gold deliveries are generally received from Andacollo within six months of concentrate shipment.
The company’s address is 1660 Wynkoop, Suite 1000, Denver, Colorado 80202, (303) 573-1660, www.royalgold.com.