Polymetals Metals shares went into a trading halt on Tuesday following a fatal explosion at its Endeavor mine in NSW.
Two people died in the blast at the 100%-owned underground silver-zinc-lead mine about 700 kilometres north-west of Sydney in the Cobar Basin of NSW on Tuesday.
An investigation was launched after the incident but according to media reports, explosives set at the mine face detonated before the workers had returned to the surface.
A third was taken to hospital with hearing damage and shock.
The company said all mining operations had been temporarily suspended.
“Everyone at Polymetals is shocked and saddened by the tragic incident at Endeavor this morning,” Polymetals Chief Executive Dave Sproule was quoted as saying.
“Our deepest thoughts and condolences go out to the employees’ families, friends and colleagues.
“We will continue to support all our people, family and friends as we navigate through this difficult time.”
The company’s shares (ASX: POL) were last quoted at $1.24, capitalising the company at $333.43 million.
Polymetals bought the Endeavor mine in 2023 and restarted mining in the first half of H1 2025.
It had operated from 1982 to 2020, producing 92 million ounces of silver, 2.6 million tonnes of zinc and 1.6 million tonnes of lead metal.
