The workforce issues faced by gold miner Centamin appear to be growing worse; the Egypt-based company says labour unrest has brought operations at its Sukari mine to a standstill.
In a statement released this morning Centmain says: "...the illegal unrest and work stoppage commenced as a result of a breakdown in on-going discussions involving general salary increases and other benefits with some members of the Sukari workforce."
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The company insists, however, that it has the "full" support of the Egyptian Mineral Resources Authority and the Ministry of Petroleum.
Unsurprisingly, the share price has dropped sharply; down 8.6% by 12:02pm. Over the last 12 months the stock has fallen 39%.
BS
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