Vancouver’s Capstone Mining Corp. (CS:TSX) reported Sunday that a worker at its Cozamin Mine in Mexico was killed after being trapped in a piece of equipment during a rock fall.
The company has suspended mining operations at Cozamin pending an independent review of rock support and pre-work inspection standards throughout the mine.
The company’s share price was trading Monday morning at roughly 5% below Friday’s close of $4.59.
The company said mine operations will re-start on a gradual basis, as safety reviews of each area of the mine are completed. Cozamin’s operations are expected to return to capacity over the next seven to ten days.
The company said the accident will affect overall production for the Cozamin Mine and revenue guidance will be provided once production resumes.
The fatal incident occurred on the morning of November 24. It took two days for rescuers to reach the worker, and he was officially pronounced dead on the evening of November 26.
The rock fall occurred in an approved area for the equipment to operate.
Capstone’s share price range during the last week: $4.49 to $4.59; 52-week high: $4.64; 52-week low: $2.05.