23rd Nov 2015 13:53
LONDON (Alliance News) - South America precious metals miner Minera IRL Ltd on Monday faced further accusations from its Peruvian operating subsidiary about the conduct of its non-executive president, as the company approaches a general meeting this week where it will attempt to end the dispute over control of its Peruvian businesses.
Minera IRL SA, the unit which manages the Peruvian businesses, cited comments from a representative of the Ministry of Energy and Mining in Peru that Jaime Pinto, non-executive president of Mineral IRL Ltd, had instigated "acts of social disruption" in the Ollachea community, who live close to the company's Ollachea gold project.
Minera IRL SA claimed Pinto, and exploration vice-president Don McIver, published statements which indicated the Ollachea community was in favour of the company's proposals and which were illegitimate, the same accusation which Minera IRL previously levelled at its Peruvian subsidiary.
Minera IRL SA said details of the actions Pinto and McIver took will be made public in the near future and claimed the authorities in the Ollachea community will file criminal charges against the two. The Ministry of Energy and Mining in Peru also will be conducting its own investigation, Mineral IRL SA said.
"We are shocked by the mistreatment and perverse approach of Mr Pinto towards the community of Ollachea," said Diego Benavides, the president of Mineral IRL SA.
In a statement on Friday, Minera IRL Ltd said that letters sent in the past in support of Minera IRL SA being given control of the projects, Benavides being appointed chief executive of the whole company, and one critical of Mineral IRL Ltd's former chairman Daryl Hodges were not legitimate and had not been agreed upon by the Ollachea community.
"We are truly sorry that the subsidiary's management team and community relations team have acted in an unprofessional manner and have used the community issue as a way to advance their personal agendas," said Jamie Pinto.
Minera IRL shares are currently suspended. The company is scheduled to hold a shareholder meeting on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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