Armed Robbers in Mexico Loot $8.5 Million in Gold from Canadian Miner Michael Babad - The Globe
go to original April 8, 2015

Armed robbers have looted about $8.5-million (U.S.) worth of gold from a Canadian mining company in Mexico.

Toronto-based McEwen Mining Inc. said late yesterday the robbers escaped with an estimated 900 kilograms of gold-bearing concentrate, which contained some 7,000 ounces of gold, from the refinery at its El Gallo 1 mine in Sinaloa.

Gold is worth about $1,211 an ounce today, putting the haul at almost $8.5-million. McEwen said it is insured, but that its policy won’t cover the full loss. No one was hurt, the miner said, and there was no significant damage to operations, where work continues.

“The crime is being vigorously investigated by the Mexican authorities,” said McEwen, which operates also in Argentina and the United States and which is 25-per-cent owned by chairman Rob McEwen.

Among other things, Mr. McEwen is known for having built Goldcorp. Inc. into one of the world’s major gold companies.

Other Canadian miners also operate in Mexico, and, as Bloomberg notes, this isn’t the first violent crime against one of them. Four Goldcorp employees, for example, were reportedly kidnapped last month.

Read the rest at The Globe

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!