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Message: I wonder what we are doing in Mexico over the next five days?

I wonder what we are doing in Mexico over the next five days?

posted on May 01, 2009 12:41PM

From one of our operating competitors:

XXX (the “Company”) announces that it is supporting the order from the Health Secretary of Mexico, by closing its 100% owned silver mines in ABC and DEF for the five days May 1 to 5, inclusive. Both mines are scheduled to resume normal operations on May 6.

The government order, announced yesterday, dictates that private industries that are non-essential in dealing directly with the H1N1 Influenza A virus, or in providing necessary community services, should be closed for this five-day period to encourage people to stay home and prevent the further spread of the flu. XXX Company places the safety of its workers above all else and, being respectful of the Mexican Government’s efforts to deal with the current difficulties, has ceased work as of today with the intention of recommencing next Wednesday.

Given that today is a public holiday in Mexico and the five-day period falls on a weekend, there will only be three days of lost production, which will be made up in the coming weeks. The mining shortfall will be made up by working extra shifts and both plants have excess capacity with which to process the additional ore. As such, the Company is not expecting any effect on its targeted production for the quarter. Site security will be maintained at both mines.

“It is our responsibility to do all we can to ensure the continued health and safety of our personnel and their families”, said President & CEO today. “Fortunately, both mines are ahead of target for the quarter and we will make up this temporary shortfall in due course.”

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