Persistence Gold Halts Production at Two Yantai Mines After Safety Order

MT Newswires Live

02/11

Persistence Gold (HKG:2489) said two of its Yantai-based mining subsidiaries have suspended production after local authorities ordered a halt following a fatal accident at a third-party mine, according to a Tuesday Hong Kong bourse filing.

Shares of the miner were down nearly 2% in Wednesday morning trade.

The Yantai Emergency Management Bureau instructed Yantai Zhongjia Mining and Yantai Mujin Mining to cease operations with immediate effect after an accident at a gold mine in Zhaoyuan City on Feb. 7, the company said.

Both units have halted mining activities and are awaiting further notice on when production may resume.

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