However, material from the ensuing slump clogged off part of the infrastructure at the mine site, including maintenance areas near the shop, piping that feeds the filter plant, outdoor storage areas, and an emergency escape exit from the mine was covered.
Timing of the mine’s resumption is currently unknown, but Jaguar expects it to be no shorter than one month. The company said it is working diligently with local authorities, including the Brazilian National Mining Agency, and the community surrounding the mine to ensure the situation remains under control.
It is estimated that approximately 134 residents have been evacuated to local hotels, and the company has crisis management and support personnel on the ground, engaging with the displaced families, it said.
Shares of Jaguar Mining plunged 26.9% by market close Monday, trading at a near six-month low of C$2.67. The company’s market capitalization is…
