Connect with us

Hi, what are you looking for?

Tuesday, Jun 6, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Bomb attack at Zijin Mining’s Colombia operation kills two, injures 14

The bombing was carried out by a local organization of illegal miners, four Colombian police officers sustained injuries

Bomb attack at Zijin Mining's Colombia operation kills two, injures 14
Buriticá Gold Mine, Colombia. Photo via Zijin Mining

China’s Zijin Mining (SHA: 601899) has paused activity at its Buriticá Gold Mine in Colombia following a bombing on Wednesday afternoon that killed two and injured 14 others.

The terrorist attack unfolded in the mine’s Higabra tunnel and was orchestrated by a local organization of illegal miners, according to preliminary investigations. The two workers killed were security and labour contractors at the site and four Colombian police officers were among those injured by the explosion.

In a news release Friday Zijin said that it was “deeply shocked and outraged by the attack.” Continental Gold, Zijin’s majority-owned subsidiary running the mine, initiated its emergency response plan in wake of the incident involving a swift underground rescue effort for the victims.

“We strongly condemn the heinous actions of the criminals and express our deepest sorrow and condolences for the two people who lost their lives,” said Zijin in the news release.

The government of Colombia has organized a security meeting to deal with the situation and says the attackers will be severely punished, according to Zijin.

Read more: Chile passes tax reform targeting mining giants, awaits president’s signature

Read more: Teck Resources gets regulatory approval for copper project in Peru

Zijin says it is calling on Colombian authorities to step up efforts to mitigate violence associated with illegal mining in the country.

The company has a 69 per cent interest in Continental Gold and the attack comes in the midst of an ongoing expansion at the mine expected to increase production capacity by 1,000 tonnes of ore per day. Zijin acquired the Buriticá Gold Mine from Continental Gold in 2019 for approximately $1 billion.

Newmont Corporation (TSX: NGT) (NYSE: NEM) acquired a 20 per cent stake in Continental Gold when it invested US$109 million in the Buriticá Gold Mine in 2017.

Zijin’s shares dropped by 1.89 per cent Friday to the equivalent of $2.10 on the Shanghai Stock Exchange.


Follow Mugglehead on Twitter

Follow Rowan Dunne on Twitter





Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


This agreement will slash approximately 25 per cent in overall electricity costs


The property is estimated to contain 9.38 grams per tonne of gold in 45,800 indicated ounces


The gold mine was attacked by a group of illegal miners earlier this month


The country's government says the funds are intended to extend the mine's life until 2034