Avocet closes mine due labour dispute

Avocet closes mine due labour dispute LONDON (SHARECAST) – Avocet Mining has halted operations at its Inata mine in Burkina Faso due to what the firm called “illegal labour unrest”.

The gold mining company said problems began as a result of a breakdown in on-going discussions involving wage reclassifications, general salary increases and other benefits.

Discussions were ongoing with a committee representing the Inata mine’s workforce, assisted by various ministries and departments in the Burkina Faso government in an effort to mediate an amicable resolution of the situation, the firm said.

Avocet added it was confident that the work stoppage would not be prolonged and it will provide further updates in due course.

“This is not an isolated incident,” said Ambrian Capital’s mining analyst Duncan Hughes.

“We note that Iam Gold announced a similar situation at its Essakane Mine yesterday, and believe other mines in the country are dealing with a similar situation.”

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=4232729

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