SPOKANE, WA, May 13 /CNW/ - Minera Andes Inc. (the "Corporation" or
"Minera Andes") announced today that it has been advised by Hochschild Mining
plc ("Hochschild") that production has been suspended at the San José Mine in
Argentina due to a dispute among labor unions over employee affiliation. The
San José Mine is operated by Hochschild, and Minera Andes has a 49% interest
in the mine.
Hochschild has advised Minera Andes that daily production, which has been
running at a rate of approximately 36,275 silver equivalent ounces (of which
the share attributable to Minera Andes is approximately 17,775 silver
equivalent ounces) has been suspended. Minera Andes understands that the
stoppage is a consequence of a dispute between the truck drivers union and the
miners union (the Asociación Obrera Minera Argentina or AOMA) over employee
union affiliation. The San José Mine employs 20 truck drivers affiliated with
the AOMA. The AOMA has announced its intention to extend work stoppages to
other mines in Santa Cruz Province unless the government of Argentina
intervenes to resolve the dispute between the two unions.
The Corporation will keep the market informed of developments as they
Minera Andes is a gold, silver and copper exploration company working in
Argentina, where it holds approximately 304,000 acres of mineral exploration
land. As noted above, Minera Andes holds a 49% interest in the San José Mine.
Minera Andes is also exploring the Los Azules copper project in San Juan
province, where an exploration program has defined a resource and a
preliminary assessment has been completed. Other exploration properties,
primarily silver and gold, are also being evaluated in southern Argentina. The
Corporation has 230,538,851 common shares issued and outstanding.
This news release is submitted by Allen V. Ambrose, President and Chief
Executive Officer of Minera Andes Inc.
Caution Concerning Forward-Looking Statements:
This press release contains certain forward-looking statements and
information, including those related to the resumption of work at the San José
Mine. The forward-looking statements and information express, as at the date
of this press release, the Corporation's plans, estimates, forecasts,
projections, expectations or beliefs as to future events and results.
Forward-looking statements involve a number of risks and uncertainties, and
there can be no assurance that such statements will prove to be accurate.
Therefore, actual results and future events could differ materially from those
anticipated in such statements. Risks and uncertainties that could cause
results or future events to differ materially from current expectations
expressed or implied by the forward-looking statements include, but are not
limited to, factors associated with fluctuations in the market price of
precious metals, mining industry risks, risks associated with foreign
operations, the state of the capital markets, environmental risks and hazards,
uncertainty as to calculation of mineral reserves and other risks.
Readers should not place undue reliance on forward-looking statements or
information. We undertake no obligation to reissue or update forward-looking
statements or information as a result of new information or events after the
date hereof except as may be required by law. See our annual information form
for additional information on risks, uncertainties and other factors relating
to the forward-looking statements and information. All forward-looking
statements and information made in this news release are qualified by this
For further information:
For further information: Art Johnson at the Spokane office, or Krister
A. Kottmeier, investor relations - Canada, at the Vancouver office; Visit our
web site: www.minandes.com; Spokane Office: 111 East Magnesium Road, Ste. A,
Spokane, WA, 99208, USA, Phone: (509) 921-7322, E-mail: firstname.lastname@example.org;
Vancouver Office: 911-470 Granville Street, Vancouver, B.C., V6C 1V5, Phone:
(604) 689-7017, (877) 689-7018, E-mail: email@example.com