Centamin picks up after Sukari dispute resolution

SHARES in gold miner Centamin rallied yesterday after it said normal operations had resumed at its Sukari gold mine in Egypt.

The Egypt-focused miner said on 6 March it had temporarily halted operations at its flagship gold mine due to “illegal labour unrest”, sending its shares down over 12 per cent.

The miner said the unsanctioned strike was due to a breakdown in talks with workers over pay and benefits.

Yesterday it reassured investors, saying that while first-quarter production and cash costs will be affected by the stoppage, its full-year outlook remains unchanged.

The Sukari gold mine, the first large-scale modern gold mine in Egypt, is Centamin’s main producing asset.
Shares closed up 4.36 per cent yesterday at 85p.