21st Jan 2014 10:45
LONDON (Alliance News) - Medusa Mining Ltd Tuesday said it has ceased all mining operations at its Philippines mine following intense weather disruption.
The gold miner said an intense low pressure system has been situated over the region for the past two weeks, resulting in heavy rains that have caused extensive flooding. Several sections of highway from the mine site are inaccessible and there have been slippages and landslides near to the mine, it said.
The company's operations in the Philippines, which were largely unaffected by the devastating Typhoon Haiyan in November, have now been hit by this new weather pattern but there have been no reported injuries and the company will release an update in due course.
Medusa Mining shares were down 6.8% to 114.70 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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