Avocet reopens mine following 'illegal unrest'

16th May 2011 14:36

Avocet Mining has resumed operations at one of its mines in Burkina Faso following a labour dispute with employees.It was announced on Friday that "illegal unrest" had prompted the company to halt production at its Inata Mine as a result of a "breakdown in on-going discussions involving wage reclassifications, general salary increases and other benefits," Avocet said.However, following a memorandum of settlement signed by the workforce committee, normal operations have restarted. The statement did not include any details of the settlement.Avocet has reassured investors that its annual production guidance for the mine announced earlier this month remains unchanged at 165,000 ounces of gold, at a cash cost of $600-650 per ounce.---BC