Steelworkers Take Union Stoush to Excellon Shareholders

By Midnight Trader September 27, 2012, 11:01:37 AM EDT

Canadian shareholders deserve much better from mining company Excellon Resources (EXN.TO), the United Steelworkers (USW) union says.

"Company efforts to identify the United Steelworkers as the driving force behind the conflict is an attempt to divert shareholder attention from what we believe are serious management issues at Excellon," said Ken Neumann, USW National Director for Canada.

"We are communicating directly with Excellon shareholders to document a litany of management problems that have led to festering conflicts in Mexico and a depressed share price for shareholders," said Neumann, who has sent a letter to Excellon's major shareholders.

The USW cites Excellon's breaking of agreements with the Los Mineros miners' union and communal landowners, related to the company's La Platosa silver mine in Mexico. The USW is a strong supporter of the miners' union and landowners and their goal of lifting Mexican communities out of poverty, although the USW has no legal association to either.

Excellon is trading at 37 cents, nearing a yr low.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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