Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

22 miners rescued from Nicaragua gold mine after landslide

Published 08/30/2014, 05:06 PM
Updated 08/30/2014, 06:20 PM
© Reuters Enrique Simons, one of the twenty miners rescued from a gold mine after a landslide, sits on a bed at a hospital in Bonanza town

By Jimmy Sanchez

BONANZA Nicaragua (Reuters) - Rescue workers have freed 22 miners who were trapped in a gold mine after a landslide in northern Nicaragua, and the government on Saturday vowed to continue search efforts for several workers that remained stuck underground.

Some 29 miners were trapped on Thursday after heavy rains provoked a landslide at the mine in the Bonanza project, about 260 miles (420 km) northeast of Managua, which was closed about four years ago after being deemed unsafe.

Rescue teams will continue search efforts, after freeing two miners on Thursday and another 20 on Friday, according to Rosario Murillo Ortega, government spokesman and wife of Nicaraguan President Daniel Ortega.

"We are monitoring the situation, following up on all efforts to find the five or seven companions," Murillo said on Saturday.

Artisanal mining is legal in Nicaragua, the poorest country in Latin America, where it is used as a way for more people to profit from the industry.

Bonanza project mine had been severely affected by seasonal rains in the past, with another landslide two months ago killing two miners, according to Mineros S.A., the Colombian parent company of Nicaraguan miner Hemco, which operates the mine.

Informal miners continued to work at the mine against the company's orders, according to Julio Quintero, head of Hemco.

Quintero said Hemco had continued to buy minerals from them until last week, when it decided it could not be sure where the product came from.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The Bonanza project, which began in 1995, produces around 37,300 troy ounces of gold a year, according to Hemco's website.

(Additional reporting by Leslie Nicolas Lacayo; writing by Alexandra Alper; editing by Tom Pfeiffer and David Gregorio)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.