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Work resumes at Egypt's Sukari gold mine

Centamin-Egypt says workers have ended their strike and work has resumed at their southern gold mine

Ahram Online, Monday 12 Mar 2012
Gold bars weighing between 50 grams and 1 kilo (Photo: Reuters)
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Views: 3269

Operations at the Sukari Egyptian gold mine were resumed after workers ended their strike, Centamin-Egypt, the mine's operator, said in statement on Monday.

Work at the gold mine, located in southern Egypt, was stopped last Sunday when workers began a strike demanding better salaries and increased hazard pay. Company management reportedly rejected their demands.

"All outstanding issues have been effectively resolved and work has recommenced," Centamin's statement said. It added that problems were resolved in cooperation with the Egyptian Mineral Resources Authority, the Ministry of Petroleum and the Industry Committee of Parliament.

The Egyptian-Australian venture added that while its financial results for the first quarter of 2011 will be affected by the week-long stoppage, its full year production projections and cash cost guidance remains unchanged.

Centamin PLC, which holds a 50 per cent stake in Centamin-Egypt, is listed on the FTSE index. It has interests in four mineral licenses in Ethiopia, where it is conducting further exploration activities.

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