20th Nov 2015 08:04
LONDON (Alliance News) - South America precious metals miner Minera IRL Ltd on Friday saw its board accused of "promoting agitation and conflict" in the Ollachea community in Peru as the battle between the company and its former interim chief executive over control if its two Peruvian operating subsidiaries continued.
Minera IRL Ltd is set to hold a shareholder vote on November 24 at which Minera IRL SA, the Peruvian arm of the business, is seeking to get backing to overhaul Minera IRL Ltd's board.
Mineral IRL Ltd is also in the process of attempting to oust Diego Benavides, the former interim CEO, from his position heading the two Peruvian operating subsidiaries. The battle led to Mineral IRL Ltd having to delay the publication of its interim results and meant its shares in London were suspended.
On Friday, Minera IRL SA claimed Mineral IRL Ltd was "promoting agitation and conflict" in the Ollachea community in southern Peru, the site of the company's flagship gold mine. It said it was doing this "with the goal of destabilising peace and order to have a group of community members sign a declaration in their favour."
Minera IRL SA targeted the new criticism of the parent company on Jamie Pinto, a non-executive director, who it claimed its currently under investigation for charges of corruption in peru.
"Minera IRL SA laments that the current Board of Minera IRL Ltd, due to its lack of knowledge about Communities in Peru, is generating conflict, at the expense of 8 years of good relations developed with the Rural Community of Ollachea, and reiterates that charges of these dealings are before the correct authorities," Minera IRL SA said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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