Royal Gold Provides Update On Peñasquito; Reached A Preliminary Agreement With The National Union Of Mine, Metal And Allied Workers Of The Mexican Republic Aiming To End The Strike Initiated By The Union On June 7, 2023
Portfolio Pulse from Benzinga Newsdesk
Royal Gold, Inc. (NASDAQ:RGLD) announced that Newmont Corporation has reached a preliminary agreement with the National Union of Mine, Metal and Allied Workers of the Mexican Republic to end the strike initiated on June 7, 2023, at Minera Peñasquito. The agreement is expected to be formalized into a definitive agreement and approved by the Federal Labor Tribunal for Collective Affairs in Mexico City. This would end the strike and enable Newmont to restart operations.
October 09, 2023 | 1:05 pm
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POSITIVE IMPACT
The resolution of the strike at Minera Peñasquito, where Royal Gold has interests, could positively impact Royal Gold's operations and potentially its stock price.
The strike at Minera Peñasquito has likely disrupted operations and potentially impacted Royal Gold's revenues. The resolution of the strike and the restart of operations could therefore have a positive impact on Royal Gold's financial performance and potentially its stock price.
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