Jaguar Mining Faces Major Fine for Turmalina Mine Incident

Jaguar Mining ( (TSE:JAG) ) has shared an update.

Jaguar Mining Inc. has received a significant civil-liability fine from the State Secretariat for the Environment and Sustainable Development of Minas Gerais, Brazil, due to a slump in the north wall of the Satinoco dry-stacked pile at its Turmalina mine. This incident has led to a temporary suspension of operations at the Turmalina mine. The company plans to appeal the fine, which it deems disproportionate, and is actively working on remediation efforts. Jaguar remains committed to resolving the issue transparently and aims to restart the Turmalina mine safely and profitably.

More about Jaguar Mining

Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company with operations in Brazil. The company operates three gold mining complexes and holds a large land package in the Iron Quadrangle, a prolific greenstone belt in Minas Gerais, Brazil. Its main assets include the MTL Mining Complex and the Caeté Mining Complex, with exploration potential from extensive mineral claims.

YTD Price Performance: -1.45%

Average Trading Volume: 82,013

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $131.1M

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