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Political Uncertainty Forces Newcrest Mining to Suspend Operations at Ivory Coast Mine

Newcrest Mining Company has decided to suspend mining operations at the Bonikro mine in Ivory Coast. This is a result of the tensions prevalent in the country after the disputed elections which were held recently.

Both contenders of the elections have declared themselves elected and taken oath of office. Civil unrest is ensuing as the present president who has the backing of the army is refusing to yield to the new one who has allegedly received more votes.

The Bonikro mine was acquired by Newcrest Mining in the takeover of Lihir Gold earlier this year. The operations have been suspended as a precautionary measure although plans are reportedly in place to restart work as soon as possible.

The mine is located 250 km north west of the city of Abidjan. The Bonikro mine accounts for 0.1% of the global gold production. The company has put in security plans to evacuate mine workers and secure mine assets. The employees have also been asked to cut down on non essential travel.

At least three Australian companies will be watching the political situation in Ivory Coast closely as their investments and assets are directly involved.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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