Terra Mines to lose major asset

Future production at the Amelia mine in Mexico may be stalled due to financing difficulties reported by the mines’ major controller, Terra Mines (TSE). Payments required by the mineral rights purchase agreement are in default and the previous owner is taking legal action to recover those rights, says Executive Vice-President G.M. Paulson. Terra Mines will attempt to resolve the issue in the near future, but is pessimistic about its chances. The Amelia mine is Terra’s major asset.