Americas Gold and Silver Corp: Down on Mexican president's pressure on union dispute

Americas Gold and Silver

18/03/2021 14:31

** Shares of Canadian miner  USA.TO  down 2.4% at C$3.25
    ** Mexico could revoke a concession held by co in northern
Mexico if it does not accept its new trade union representation
there, President Andres Manuel Lopez Obrador said on Wednesday
 urn:newsml:reuters.com:*:nL1N2LF3Q5
    ** Speaking at a news conference, Obrador said he would
direct his foreign minister to speak to Canadian officials about
the dispute playing out at USA's San Rafael mine in Sinaloa
state
    ** Obrador said USA had rejected the outcome of a vote by
workers at the mine to put labor representation under the
control of a national miners trade union led by his close ally,
who also serves as a ruling party senator.
    ** Co responded to the president's remarks, saying it was
the victim of "extortion and organized crime" that has
masqueraded as a workers' rights issue for over a year
    ** Up to last close, stock down ~20% YTD 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))