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.