Resolute Reached Agreement with Union to Avoid Strike in Mali Gold Mine

SEATTLE (Scrap Monster): Resolute Mining announced that its local subsidiary in Mali has reached a conciliation agreement with striking unionized workers at the Syama Gold Mine. The signing of the new agreement confirms cancellation of further planned strike action at the mine.

As per the agreement reached between Resolute’s subsidiary company in Mali, the Société des Mines de Syama S.A. (SOMISY) and the Union Nationale des Travailleurs du Mali (UNTM), a commission will be established to evaluate the measures suggested by the company in response to tough economic conditions following Covid-19 pandemic. The union will engage in identifying possible solutions. Following the agreement, Syama mining operations have returned to normal.

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Consequently, Resolute has reinstated the production guidance for the current year. The company now expects the total yearly production for 2020 to be in the range of 400,000 ounces to 430,000 ounces of gold at an AISC of between $980 per ounce and $1,080 per ounce. Meantime, Syama mine will see a delay in production of nearly 15,000 ounces of gold during the September 2020 quarter.