https://www.engineeringnews.co.za

Judge orders lifting of Avocet gold seizure

8th November 2016

By: Anine Kilian

Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – LSE-listed Avocet Mining’s share price rose 28.7% on Tuesday morning, after it announced that a judge in Burkina Faso had ordered the lifting of the seizure of a gold shipment last month.

The seizure of a 1 400 oz gold shipment was affected by bailiffs acting on behalf of former employees of Société des Mines de Bélahouro (SMB) who had been laid off following an illegal strike in December 2014.

At the time, Avocet, which owns 90% of SMB, which, in turn, owns the Inata mine, said the legal basis for the seizure was, according to representatives of the former employees, a number of unpaid benefits which remain outstanding.

The company added on Tuesday that it continued to explore solutions to resolve the $3.4-million legal claim made by former SMB employees.

In the meantime, steps are being taken to recover the seized gold for export and to reinstate normal gold shipments thereafter.

The intention is to resume operations at Inata later this week.
 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.123 0.173s - 156pq - 2rq
Subscribe Now