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Xtract’s Nelson: Chepica back online in two months after Chile earthquake

Jan Nelson, chief executive of Xtract Resources (LON:XTR), says the company’s Chepica mine will be back in operation in a couple of months after damage from a recent earthquake.

A major tremor rendered the main access haulage at the firm's Chepica asset unsafe, which means main mining area is currently inaccessible.

Despite the disruption, the mine is still profitable and will be up and running again by the end of the year.

Quick facts: Xtract Resources PLC

Price: 1.25 GBX

LSE:XTR
Market: LSE
Market Cap: £7.76 m
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Xtract Resources to become mid-tier gold producer by end 2017 – CEO

Jan Nelson, chief executive of Xtract Resources PLC (LON:XTR), says the restructuring of the Chepica mine in the last quarter of last year is paying off. “I know it was very difficult and hard for investors at the time, but I think you can see that the plan in terms of stopping and...

on 05/05/2016

2 min read