Culiacan, Mexico, Apr 8 (EFE).- Canada’s McEwen Mining said Wednesday that some 7,000 ounces of gold worth $8.5 million were stolen in an armed robbery at its El Gallo 1 mine in the northwestern Mexican state of Sinaloa.

 

No one was hurt in the robbery and the mine in the city of Mocorito was not damaged, the company said in a statement.

 

Mining and processing operations are continuing at El Gallo 1, McEwen Mining said.

 

“Mexican authorities are vigorously investigating” the theft of 900 kilos of gold concentrate, which contains about 7,000 ounces of the precious metal, McEwen Mining said.

 

“The company maintains insurance against these types of incidents and is working closely with its insurance carrier to determine the extent of available coverage,” McEwen said. “However, the company’s policy will not be sufficient to cover the entire expected loss.”

 

El Gallo 1, inaugurated in January 2013 by Sinaloa Gov. Mario Lopez, produced 38,212 ounces of gold and 25,912 ounces of silver last year.

 

McEwen Mining plans to boost production by 31 percent to 50,000 ounces of gold this year. EFE