By Otto Rock
Gold Resources Corp (GORO): Fined for permit abuses
A year ago in January 2017, the blog reported on the death of two workers at the Gold Resources Corp (GORO) Arista mine in South Mexico in two separate incidents in the space of just nine days (22).
It now transpires that GORO was operating its mine without a valid environmental or operating permit and they didn’t mention this to authorities for many years. As a result, the company has just been handed a MXN $9.8m (approx U$0.52m) fine by Mexico’s Federal Environment Protection agency PROFEPA). Aside from the deaths, it was found to be operating without pollution emission control equipment, dust protection (around crusher) and had poor maintenance records for key machinery such as electric generators (23) (24).
If the company does not make prompt payment of the fine, PROFEPA says it will move to get a court injunction and close down the operation. Personally, I think half a million is a let-off for this company and in any serious country it would have been closed down permanently.
I really get the feeling that GORO is lucky to be operating in a non-serious country and that if they’d tried this kind of trick in any country that takes its own laws seriously, it would have been permanently closed down years ago and its bosses arrested on the spot. Either way, look no further for the despicable level of this company, half a million USD is a very small price to pay for such scumbaggery.Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.