Election conflict forces Newcrest to suspend Cote d'Ivoire mine
Newcrest Mining (ASX:NCM) temporarily suspended operations in its Bonikro mine in Cote d'Ivoire, after contested elections in that country.
The company said it continues to monitor closely the political and security situation in West African nation and that a number of precautionary measures have been in place throughout the election period to ensure the safety and security of all employees, including restrictions on non-essential travel.
Over the weekend, as a further precautionary measure, mine operations were temporarily suspended. Plans are in place to recommence operations as soon as possible.
A detailed security plan is in place and includes provision for a temporary evacuation of employees should the situation deteriorate. Steps are also in place to safeguard mine assets.
Close contact is being maintained with the authorities, including relevant consular and embassy officials.
Central contact points for family and friends outside Cote d' Ivoire have been established for them to obtain the most up-to-date information.
Newcrest's operations in Cote d'Ivoire were acquired recently following the Lihir Gold acquisition.
They comprise the Bonikro operation, which produces approximately 120,000 ounces of gold per annum, and exploration activities.
Shares in Newcrest lifted 26 cents at $41.00 at 1145 AEDT.