Centamin Says Sukari as Normal, Unrest Caused ‘Disruptions’

- February 24th, 2011

Bloomberg reports that Centamin Egypt Ltd. ( LON:CEY), a gold company operating in the North African country, says political upheaval has caused “mild disruptions” and that all employees have returned to work at its Sukari mine.

Bloomberg reports that Centamin Egypt Ltd. ( LON:CEY), a gold company operating in the North African country, says political upheaval has caused “mild disruptions” and that all employees have returned to work at its Sukari mine.

The market news is quoted as saying:

Workers at the Sukari site staged a sit-in last week to demand higher pay and a change of ownership, state news service MENA reported Feb. 18. The company’s shares fell the most in more than two years that day. Centamin also reported “mild disruptions” at port authorities and supply lines during the political unrest, which led to inventories being drawn down.

That, together with the labor dispute, caused “minor and immaterial disruption to mining operations,” it said.

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