Syama strike sees Resolute withdraw guidance

RESOLUTE Mining has withdrawn production and cost guidance for the year after a workers union at the flagship Syama operation in Mali informed the company a 10-day strike would be called if workers “who have been stood down on full pay” due to COVID-19 protocols were not reinstated.
Syama strike sees Resolute withdraw guidance Syama strike sees Resolute withdraw guidance Syama strike sees Resolute withdraw guidance Syama strike sees Resolute withdraw guidance Syama strike sees Resolute withdraw guidance

Resolute's Syama mine in Mali

Resolute said it has been reducing the risk of transmission by limiting the travel of non-essential workers from outside the surrounding region to the mine site.

Resolute is now considering how to respond, while telling the union the strike notice is "irresponsible, opportunistic and represents a breach of … commitments".

The West Africa miner's full-year guidance had been 430,000 ounces at all-in sustaining costs of US$980 per ounce, with 260,000oz of that contributed by Syama. 

Resolute's net debt at June 30 was $220 million.

Shares in Resolute fell 4.5% Wednesday and were down another 12% to 93c in morning trade today, capitalising the company at $1 billion.