ESG

Equinox's Los Filos blockaded, again

Equinox Gold said on Friday its Los Filos mine in Mexico had been blockaded again by “certain members” of the nearby Carrizalillo community.

Staff reporter
 Equinox Gold has had to suspend restart preparations at Los Filos in Mexico

Equinox Gold has had to suspend restart preparations at Los Filos in Mexico

The original blockade, which prompted the mine's suspension on September 3, had been removed last Monday, with Equinox saying at the time good-faith negotiations would continue to reach final agreement on a few remaining items related to benefits provided under the Carrizalillo social collaboration agreement.

Los Filos had begun a staged restart last week and was working towards achieving full operations in December.

However the Ross Beaty-led Equinox said on Friday preparations to restart mining activities had been suspended due to the resumption of the blockade.

"Equinox Gold continues to communicate with these individuals and hopes to achieve a long-term solution that will allow the mine to operate effectively and continue bringing benefits to its employees, contractors, suppliers and community partners," it said.

Los Filos was one of the four mines Equinox gained through its March merger with Leagold Mining.

The enlarged company's sole mine in Mexico was also suspended for most of the June quarter due to government-mandated COVID-19 restrictions.

Equinox recently withdrew 2020 production and cost guidance for Los Filos, which had been expected to produce 90,000-110,000 ounces of the company's 470,000-530,000oz this year, according to a guidance update in August.

The company produced 124,687oz from its six mines in the September quarter then poured first gold in October from its seventh, the new Castle Mountain mine in California.

Equinox shares (TSX: EQ X) have ranged from C$6.60-$17.99 over the past year and closed up 0.3% to $13.24 on Friday, capitalising it at $3.2 billion (US$2.4 billion).

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