Centamin has again stopped operations at its flagship Sukari gold mine in Egypt due to 'illegal labour unrest' from a 'small percentage' of the Sukari workforce, it said.
The illegal work stoppage began as a result of a dispute during on-going discussions relating to general salary increases. The company is continuing its discussions and said it has the full support of the Egyptian Mineral Resources Authority and the Ministry of Labour.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Putting a brave face on things, Centamin emphasised that it "does not consider this interruption to production to be material at this stage" and said it will provide further updates in due course.
The share price declined 4.79% to 60.60p by 09:08.
NR
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
