CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Endeavour Mining Plc agreed to pay staff at its Sabodala mine in Senegal for overtime work to end a five-day strike until a more permanent solution is found.
The UK-based miner agreed to reimburse workers for extra hours retroactively and will resume talks in December to discuss a long-term solution, according to a statement late Tuesday. A spokesman for Endeavour wasn’t immediately able to comment when reached by email.
The strike was suspended on Aug. 5 as Endeavour said a prolonged shutdown would have a serious impact on gold output. The company in April said it was on track to achieve full-year guidance of between 1.13 million ounces and 1.27 million ounces following an expansion of the site.
The agreement includes overtime compensation for all staff from July 1, 2021 and the payment of overtime compensation over 14 days per year between 2017 to 2022, according to the document.
It also puts in place a new rotation system for executives.
(By Katarina Höije)
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