Arab Today, arab today egypt\s sukari gold mine work resumes
Last Updated : GMT 21:10:43
Arab Today, arab today
Arab Today, arab today

Egypt\'s Sukari gold mine work resumes

Arab Today, arab today

Arab Today, arab today Egypt\'s Sukari gold mine work resumes

Cairo - Arabstoday

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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