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UPDATE 1-Canada's Iamgold says workers go on strike at its Suriname mine

Published 2015-12-02, 05:29 p/m
UPDATE 1-Canada's Iamgold says workers go on strike at its Suriname mine
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(Adds details on Rosebel costs, production outlook)
Dec 2 (Reuters) - Workers at Iamgold Corp's IMG.TO Rosebel
gold mine in Suriname have gone on strike over the company
laying off about 10 percent of the mine's employees, Iamgold
said on Wednesday.
The mid-sized Canadian-based miner said Rosebel had followed
the process required by law for the lay-offs, offering a fair
severance package, which more than 50 percent of affected
employees have accepted.
Iamgold announced the lay offs in October as part of efforts
to reduce costs at Rosebel.
In the first nine months of 2015 Rosebel produced 217,000
ounces of gold on an attributable basis at an all-in sustaining
cost of $1,082 per ounce. The gold price XAU= was last at
$1,053.
Iamgold said it still expects Rosebel to produce between
290,000 and 300,000 ounces of gold this year but this could be
re-assessed depending on the length of the strike.

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