3rd Nov 2015 14:08
LONDON (Alliance News) - First Quantum Minerals Ltd Tuesday said workers at the Cayeli mine on the Black Sea coast of north-eastern Turkey have gone on strike after the company failed to secure a deal with the worker's unions.
The company's wholly owned subsidiary, Cayeli Bakir Isletmeleri AS, and the union that represents the workers at the mine have failed to reach an agreement, which sparked strike action from the workers last Friday.
First Quantum did not specify what the dispute between the subsidiary and the union relates to.
"Activity at the mine site will be limited to the areas of environment and safety, mine dewatering, and underground rehabilitation," First Quantum said in a statement.
"The company remains open to reaching an agreement with the union within the parameters of the company's cost constraints and considering the prevailing base metals market," the company added.
The Cayeli mine began producing copper and zinc in the fourth quarter of 2013.
First Quantum shares were down 0.9% to 345.0 pence per share on Tuesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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