UPDATE 1-Miners at Inmet's Ok Tedi Ops Resume Work-Shanghai Metals Market

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UPDATE 1-Miners at Inmet's Ok Tedi Ops Resume Work

Industry News 11:02:28AM Apr 20, 2010 Source:SMM

TORONTO, April 19 (Reuters) - Canada's Inmet Mining Corp (IMN.TO) said on Monday that miners at its Ok Tedi copper-gold mine in Papua New Guinea have ended their strike and returned to work as of April 17.

Earlier this month, Inmet said the mine was subject to what it called an "illegal work action" by union employees that was likely to hurt its 2010 production outlook.

Toronto-based Inmet said it expects the strike to have resulted in 5,000 tonnes of lost copper production in 2010 and 18,000 ounces of lost gold production.

However, Inmet owns only a portion of Ok Tedi and its share of the production loss equates to 900 tonnes of copper and 3200 ounces of gold, the company said in a statement.

The other stakeholders in Ok Tedi are the Papua New Guinea Sustainable Development Program Ltd and the Papua New Guinea government.

Inmet said Ok Tedi was able to complete a significant part of its scheduled maintenance work during the strike, which should allow it to make up a portion of the lost production. 
 

UPDATE 1-Miners at Inmet's Ok Tedi Ops Resume Work

Industry News 11:02:28AM Apr 20, 2010 Source:SMM

TORONTO, April 19 (Reuters) - Canada's Inmet Mining Corp (IMN.TO) said on Monday that miners at its Ok Tedi copper-gold mine in Papua New Guinea have ended their strike and returned to work as of April 17.

Earlier this month, Inmet said the mine was subject to what it called an "illegal work action" by union employees that was likely to hurt its 2010 production outlook.

Toronto-based Inmet said it expects the strike to have resulted in 5,000 tonnes of lost copper production in 2010 and 18,000 ounces of lost gold production.

However, Inmet owns only a portion of Ok Tedi and its share of the production loss equates to 900 tonnes of copper and 3200 ounces of gold, the company said in a statement.

The other stakeholders in Ok Tedi are the Papua New Guinea Sustainable Development Program Ltd and the Papua New Guinea government.

Inmet said Ok Tedi was able to complete a significant part of its scheduled maintenance work during the strike, which should allow it to make up a portion of the lost production.