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April 18, 2022

Eight workers missing after flooding at Trevali’s Perkoa mine

The mine has been evacuated, with the firm currently working alongside the authorities to respond to the incident.

Trevali Mining has halted operations at its Perkoa mine in Burkina Faso after the mine was flooded in some areas due to heavy rainfall.

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The mine, 90%-owned by Trevali, has been evacuated, with both mining and milling operations stopped currently.

Eight miners are missing underground following the incident, and rescue operations are ongoing.

Currently, the Vancouver, Canada-based firm is working alongside the authorities to respond to the incident.

Trevali president and CEO Ricus Grimbeek said: “We are deeply saddened by this unexpected event. Our immediate focus is on search and rescue.

We will provide further updates as the situation unfolds and we determine the cause of the flooding event.”

Earlier in August 2018, a worker death was reported in the Perkoa mine due to an accident.

Located in the Sanguie Province, around 120 kilometres west of the capital city of Ouagadougou, Burkina Faso, the Perkoa Mine has been operational since 2013.

“The Perkoa deposit represents the only significant zinc-silver massive sulphide mineralisation discovered in the Birimian to date and it is also the first zinc-silver massive sulphide mineralisation discovered in this region,” the miner’s website said.

Production of zinc and lead concentrate at its three operational assets constitutes majority of Trevali’s revenue.

These assets include the Perkoa Mine, the 90%-owned Rosh Pinah Mine in Namibia, and northern New Brunswick, Canada’s Caribou Mine that is fully owned by the firm.

Trevali also has ownership of the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, along with an option to pick a 100% stake in the Heath Steele deposit in New Brunswick. Furthermore, it has an effective 44% stake in Namibia’s Gergarub Project.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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