Nativo Resources pauses Tesoro mining due to heavy rainfall in Peru

(Alliance News) - Nativo Resources PLC on Tuesday announced a temporary halt to mining at its Tesoro gold concession in Peru due to heavy rainfall affecting the region.

The Latin America-focused exploration company with interests in precious metals mining and production in Peru said the extreme weather has impacted 20 regions across the country, prompting the government to declare a temporary state of emergency in certain areas, including Arequipa, where the Tesoro site is located.

Mining operations will resume once the mine shaft is sufficiently dry to ensure safe working conditions and key transport routes are restored. The mine operator, Boku Resources SAC, estimates that production could restart in approximately three weeks.

Chief Executive Officer Stephen Birrell said: "Peru has been experiencing unusually strong rainfall in this latter part of the annual rainy season which has led to severe flooding in large parts of the country, affecting roads and other infrastructure. Boku's staff are all safe. Our thoughts are with people who have been badly affected by these floods.

We will resume mining as soon as it is safe and practical to do so, and supply routes have been restored. When we resume operations, the focus will continue to be on grade over tonnage, as we prepare the mine further to support sustainable long-term production."

Shares in Nativo Resources closed 5.3% at 0.0016 pence in London on Tuesday.

By Eva Castanedo, Alliance News reporter

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