Ascendant Resources: the renaissance of El Mochito
(Norwich, UK, 06/08/2019)
In December 2016, Canadian mining company Ascendant Resources acquired the El Mochito mine in Honduras. Since then, the once struggling mine has undergone a remarkable rejuvenation project that has doubled its production, established a profoundly positive relationship with its workers, and upped the ante of corporate social responsibility in the local area. Chris Buncic, CEO and Co-Founder at the company, sat down with Business Chief Canada to discuss the mine’s turnaround, the strategies that have driven its success, and the importance of its Mining 101 initiative.
“After we closed the acquisition, we set upon a program of optimization and rehabilitation of the asset, as well as retraining operators,” says Buncic. “It was a very people-focused change,” says Buncic. “In 2017, we renegotiated our collective bargaining agreement with the workers’ union, which had been long overdue. They were unhappy with the situation before we took over, so we had lots of positive benefits come through that. As we ramped up production, people have reaped the benefits of the higher production rates through incentives. Everyone is happy in sharing the success of the mine, and it’s certainly something we’re happy to continue to foster.”
The full feature, complete with Buncic’s cutting-edge insights, can be found in the August issue of Business Chief Canada.