Ascendant Resources signs deal to resume operations at El Mochito Mine, Honduras


Ascendant Resources has reached an agreement between its mine workers and new union representatives to resume complete operations at the El Mochito Mine in Honduras.

Ascendant Resources president and CEO Chris Buncic said: "Although the temporary delay in operations was unfortunate, we are very pleased that both sides were able to reach an agreement allowing our workers to return to work enabling full operations to continue at the El Mochito mine.

“We look forward to developing a new collective bargaining agreement with union leadership in the immediate future to align the interests of the workers and the company. Ascendant has been assured that operations will continue uninterrupted while the CBA negotiations progress.”

According to a Reuters report, the El Mochito mine temporarily shutdown last September after a fatality.

"Ascendant has been assured that operations will continue uninterrupted while the CBA negotiations progress."

As workers restart work and full operations resume, the company is expected to begin the process of developing a new collective bargaining agreement starting 13 February.

The company said with new agreement, it looks forward to continuing its optimisation programmes and examining potential exploration opportunities at the El Mochito Mine.

Ascendant Resources was formerly known as Morumbi Resources. It is a mining issuer focused on its flagship operating asset, the producing El Mochito zinc, silver and lead mine in west-central Honduras.

El Mochito has been in almost continuous production since 1948. The company evaluates producing and advanced development stage mineral resource acquisition opportunities in North, South and Central America.