Endeavour resolves work stoppage at Mexican mine

NEW YORK -- Endeavour Silver Corp. said Wednesday that it has resolved the work stoppage that blocked its management from accessing certain facilities held under lease near the El Cubo mine in Mexico.

The Canadian mining company said the workers involved, who began the blockade on Tuesday, have ended it and agreed to go back to work starting with the Wednesday afternoon shift.

The company said Tuesday that it considered the work stoppage illegal, because no formal complaints had been made against the company and no strike notice had been filed.

Endeavour said that members of its management and the Mexican government met with the non-union workers late Tuesday. Most of their issues related the recent actions by their previous employer, an outsourcing company used by the mine's previous owner, that put their jobs and their accrued benefits at risk.

Endeavour said it arranged for another services company to take responsibility for the workers accrued benefits and provide jobs for the workers at some of the leased assets.

Endeavor's U.S. shares rose 24 cents, or 2.6 percent, to $9.37 in afternoon trading. They are up 29 percent from a 52-week low of $7.25 set in mid-May.