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First Quantum says workers on strike at Turkey's Cayeli copper-zinc mine

Published: 04:55 04 Nov 2015 AEDT

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First Quantum says activity at the Cayeli mine will be limited to environment and safety, mine dewatering and underground rehabilitation.

First Quantum Minerals (TSE:FM), a Canadian base metal miner, said workers at its Cayeli copper-zinc mine in Turkey have been on strike since October 30.

The dispute was over a three-year contract that is up for renewal, First Quantum President Clive Newall told Reuters in an email.

The Cayeli mine is an underground copper and zinc operation located on the Black Sea coast of northeastern Turkey.

The company said in a statement that collective bargaining between the company's wholly-owned subsidiary Cayeli Bakir Isletmeleri and the mining workers' union failed to reach an agreement.

The company said it remains open to reaching an agreement with the union within the parameters of the company's cost constraints and considering the prevailing base metals market.

The Vancouver, British Columbia-based company said activity at the mine will be limited to environment and safety, mine dewatering and underground rehabilitation.

Shares rose 0.8% to C$7.30 at 12:51 p.m. in Toronto after dropping to as low as C$6.84.

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