to Announce Plan to Resume Output at Tanzania Mine (New York)
By Sarah McGregor
Nov. 6 (Bloomberg) -- Barrick Gold Corp., the world'sbiggest producer of the metal, will announce a plan by Nov. 9 onrestarting output at its Bulyanhulu mine in Tanzania, saidTeweli K. Teweli, a company spokesman.
"We are working very, very hard to get the mineoperational again,'' Teweli said in an interview today in thecommercial capital, Dar es Salaam. ``We should have a much morespecific timetable'' by Nov. 9."
Bulyanhulu is Tanzania's largest underground gold mine inoperation, with 10.7 million ounces of mineable reserves. It haslost production of as much as 600 ounces a day since theTanzania Mines and Construction Workers Union began a strikeOct. 25 to demand higher salaries and improved health care.
Labor union representatives and company officials shouldwork quickly to end the strike, which threatens to tarnishTanzania's image as a stable foreign-investment destination,said Zitto Kabwe, a lawmaker from the opposition Chadema party.
"The workers have legitimate concerns, feeling Barrick iscoming to take their gold and they are not being paid enough,''Kabwe said in an interview today in Dar es Salaam. ``On theother side, Barrick is a big company and news of the strikecould discourage investment. The union and Barrick need to sitdown and resolve this amicably.''
--Editors: Richardson (slw).
To contact the reporter on this story:
Sarah McGregor in Dar es Salaam via Johannesburg at
+27-11-286-1999 or pmrichardson@bloomberg.net.
To contact the editor responsible for this story:
James Ludden +44-20-7673-2645 or jludden@bloomberg.net.
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