Canada-based McEwen Mining Inc says armed robbers have taken $US8.5 million ($A11.13 million) in gold from a refinery at a mine in Mexico's Sinaloa state.
A company statement said the theft occurred on Tuesday at the El Gallo 1 mine and involved 900 kilograms of gold-bearing concentrate containing approximately 7000 ounces of gold.
The company said on Tuesday that the crime was being investigated by Mexican authorities.
It said its insurance policies will not be enough to cover the losses.
The statement said no one was injured and mining operations were not affected, but did not provide any more details about the robbery.
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The Toronto-based company has operations in Mexico, the United States and Argentina.
