Business / Companies
Workers down tools at Dalny Mine, Zimbabwe
16 Jan 2013 at 17:55hrs | Views
New Dawn Mining announced an illegal and unprotected work stoppage at its Dalny Mine in Zimbabwe.
The Company said it is currently dealing with this work stoppage in accordance with Zimbabwe labour legislation, as well as its own internal policies.
The work stoppage has caused gold production at Dalny Mine to halt.
The company says the impact of the power issues at Dalny Mine have now been compounded by the effects of this work stoppage, exacerbating issues with respect to the Company's working capital and operating positions.
As the situation clarifies, the Company said it intends to adjust its business strategies, as appropriate, to recognise the changing operating and financial parameters.
Management is working to resolve this illegal strike in an orderly and efficient manner, and will report updates to shareholders as events occur.
New Dawn currently has five producing gold mines in Zimbabwe. No work stoppage has occurred at the Company's other four mines.
The Company said it is currently dealing with this work stoppage in accordance with Zimbabwe labour legislation, as well as its own internal policies.
The work stoppage has caused gold production at Dalny Mine to halt.
The company says the impact of the power issues at Dalny Mine have now been compounded by the effects of this work stoppage, exacerbating issues with respect to the Company's working capital and operating positions.
As the situation clarifies, the Company said it intends to adjust its business strategies, as appropriate, to recognise the changing operating and financial parameters.
Management is working to resolve this illegal strike in an orderly and efficient manner, and will report updates to shareholders as events occur.
New Dawn currently has five producing gold mines in Zimbabwe. No work stoppage has occurred at the Company's other four mines.
Source - Byo24News
