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Unionized workers strike at Kinross Gold's Tasiast mine

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(Kitco News) - Unionized workers have gone on strike at the Tasiast mine owned by Kinross Gold Corp. (TSX: K; NYSE: KGC), the company announced Tuesday.

The company said in a news release that it disagrees with the basis of the strike notice, without specifying the union’s demand, but remains open to discussions to resolve the situation. The company said it has complied with all government mandates related to the COVID-19 pandemic and has prioritized the health and well-being of its employees during mine operations.

The company’s fourth-quarter earning statement showed that the mine, which is located in the West African nation of Mauritania, produced 391,097 gold-equivalent ounces in 2019, well up from 250,965 the year before. Officials said the mine continued to benefit from a phase-one expansion and a strong performance by the mill.

There have been four short labor actions at Tasiast since Kinross acquired the mine, with the last in 2016, the company said. The average length of these actions have been approximately nine days, and none had a material impact on the company, officials added.

Kinross is scheduled to release its first-quarter earnings report late Tuesday after markets close.

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