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IAMGOLD reports strike at Rosebel gold mine in Suriname, calls it a 'force majeur'

The miner has triggered force majeure to suspend operations at the mine amid a work stoppage by striking employees

Molten gold furnace
IAMGOLD is a mid-tier mining company based in Toronto

IAMGOLD Corporation (TSX: IMG) announced that a number of unionized employees started a work stoppage at the company's Rosebel Gold Mine in Suriname.

The company said the strike is a breach of the Collective Labor Agreement requiring a number of procedures in the event of a dispute between Rosebel and Rosebell Werknemers Organisatie.

As a result, IAMGOLD has triggered force majeure to suspend operations at Rosebel.

Rosebel has prepared legal actions against the union. A new two-year Collective Labor Agreement was finalized at Rosebel on September 14, 2018. 

READ:  IAMGOLD misses on 3Q earnings and revenue as production falters; confirms outlook

Rosebel management said it has been in compliance with the CLA. 

IAMGOLD is a mid-tier mining company with four operating gold mines on three continents.

A solid base of strategic assets in North and South America and West Africa is complemented by development and exploration projects and continued assessment of acquisition opportunities.

The company is based in Toronto.

Contact Rene Pastor at [email protected]

Quick facts: Iamgold

Price: $4.46

Market: TSX
Market Cap: $2.09 billion
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