TORONTO (miningweekly.com) – Midsized miner Iamgold on Monday reported that the company’s Rosebel gold mine, in Suriname, has resumed production, after employees protesting a plan to axe 10% of the operation’s positions ended an illegal strike at the end of last week.
Workers had gone on strike early this month, in the wake of the company announcing plans to cut 160 jobs, or 10% of its Rosebel employees, citing the decline in the gold price as motivation.
Toronto-based Iamgold advised that the walkout cost the Rosebel operation about 9 000 oz of gold attributable production and $9.4-million in revenue.
It expected to forge ahead with the planned layoffs, and about 90 employees had accepted voluntary retrenchment packages.
Iamgold held a 95% interest in the Rosebel mine, with the Surname government holding the remaining 5%.
Rosebel was expected to produce more than 280 000 attributable ounces in 2015, which, combined with the planned output from the company's four operating gold mines, including its joint ventures in Mali, was expected to result in the company meeting its full-year guidance of between 780 000 oz and 815 000 oz of attributable gold.