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Shares in Latin American precious metals producer Fortuna Silver Mines slumped 10% Thursday after the company reported that Mexico’s environmental authority SEMARNAT said it would re-assess a 12-year extension given to the environmental impact authorisation (EIA) for the company’s San Jose mine in Oaxaca. The extension was awarded in December 2021.
Fortuna Silver Mines' San Jose mine in Oaxaca, Mexico
Subsequent to the grant of the extension in 2021, SEMARNAT suggested it had made a typographical error and that the correct term was two years rather than 12.
Mexican authorities reduce authorisation from 12 years to 2 years
Fortuna faces San Jose stoppage
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