https://www.engineeringnews.co.za

Kinross reports end of three-week Tasiast strike

13th June 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Dual-listed Kinross Gold has reported an end to a three-week strike by employees at its Tasiast mine, in Mauritania.

The Toronto-based miner advised on Monday that personnel started returning to work on Saturday and negotiations with the staff delegates on a new collective labour agreement and other outstanding items were expected to restart within ten days.

Employees did, however, retain the right to strike during negotiations, subject to Mauritanian labour laws.

Kinross pointed out that the strike was not expected to impact its full-year regional guidance and did not affect development of the Tasiast Phase 1 expansion.

Tasiast produced 219 045 oz of gold equivalent in 2015. The Phase 1 expansion was expected to nearly double output to 409 000 oz of gold from 2018 to 2027, while reducing cost of sales significantly, at a manageable capital cost. Phase 2 comprised lifting the operation’s output to 777 000 oz of gold from 2020 to 2026, at all-in sustaining costs (AISC) of $665/oz of gold.

Kinross planned to produce about 2.7-million to 2.9-million gold-equivalent ounces in 2016, with AISC expected to range between $890/oz to $990/oz of gold equivalent.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th 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:2.163 2.217s - 156pq - 2rq
Subscribe Now