Lotus Resources signs mine development agreement with Malawi gov’t
The company's next steps are to complete offtake negotiations for the first phase of contracting and finalize the project's financing.
Endeavour Mining Plc said a strike at the Sabodala-Massawa mine in Senegal isn’t expected to impact its gold output target this year, after the stoppage entered a second day.
The company doesn’t “currently anticipate a material impact on the group’s ability to meet its production guidance,” it said in a statement late Friday, while saying that costs would be near the top-end of the guided range.
The strike is affecting some operations, while others are continuing, the company said, without giving a precise reason for the stoppage. Endeavour said it’s working to end the strike and expects “full operations to resume in the near term.”
The statement contrasts with warnings in an internal memo, obtained by Bloomberg earlier this week, that the stoppage could have a “serious impact” on output in the second trimester. The memo had shown that the firm expected even a short-lived strike to affect normal activity for months.
The company said in April it’s on track to achieve full-year guidance of between 1.13 million ounces and 1.27 million ounces following an expansion of the site.
(By Katarina Höije)
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