|Master Investor Magazine
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A fatal accident has ceased production in part of the Palito gold mine in Brazil, which is operated by AIM-listed Serabi Gold (LON:SRB). The company said that it has notified the relevant authorities and that production will be ceased until an investigation into the causes of the accident is complete.
Chief executive officer Mike Hodgson commented: “We are deeply saddened to announce a fatal accident at our Palito mining operation on February 11th during the day shift. I join with all of my colleagues and fellow directors in expressing our sincere condolences to the family and friends of the deceased“.
The price of Serabi Gold shares fell by 3.95% to 36.50p (as of 12:45 GMT).