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Gran Colombia reports fatality

A miner has died in an underground elevator accident at Gran Colombia Gold’s (TSX: GCM) flagship Segovia operations on Thursday.
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Colombia-focused miner reports fatality from key operations

Staff reporter

The company said a cable failed on the elevator which was transporting 20 miners from level 8 to level 12 in the Providencia mine.

It said yesterday it deeply regretted to report a miner had succumbed to injuries.

"We are also providing support and assistance to the other 19 workers and their families as they recover from injuries suffered in the incident," the company said.

Gran Colombia said appropriate government authorities had been notified and an investigation was underway to determine the cause of the incident.

Providencia is one of several high-grade underground mines that make up the Segovia operations in Antioquia.

The miner said recently it was moving into mid-tier producer status after exceeding 2018 guidance with 218,001 ounces, a 25% increase on 2017.

It expects continued growth at Segovia to deliver 186,000-199,000oz this year, with the company's total full-year guidance at 210,000-225,000oz.

Gran Colombia shares closed up 5% yesterday to C$3.31, a midpoint in its 52-week range, as the gold price also rose over renewed US-China trade tensions.