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THE disruption of gold production at
one of Papua New Guinea’s leading gold mine, Lihir in New Ireland
province last week had added to the jolted market price of gold.
Spot gold price rose to US$666.30/667.10 (K1,968.92) an ounce last
Thursday and was at a peak of around US$667.70 (K1973.06) before
dropping nearly US$2.00 (K5.91) due to weakness in equities markets and
a firm dollar.
Together with the news of the disruption of gold production at Lihir,
dealers had awaited a key speech by United States Federal Reserve
chairman that was expected later that same day for clues about the
prospect.
The disruption came about with workers at the mine site taking
industrial action last Friday morning causing interruption to gold
production at the mine.
As of yesterday, Joe Dowling, Lihir’s general manager corporate affairs
informed The National that negotiations with striking workers was
continuing with a senior delegation from the Department of Labour
already on site to take charge of negotiations and explaining to workers
the required process.
Apparently the workers went on strike in protest against their terms and
conditions along with a terminal blast incident some months ago that
allegedly resulted in a local landowner’s child being injured.
The workers commenced their strike from 10pm last Thursday night with
the intention to stop all operations at the mine site while awaiting
Lihir Gold Ltd managing director Arthur Hood to address the workers
grievances.
Mr Dowling said the company was providing full support to the delegation
from the Labour Department while remaining hopeful of a rapid resolution
to enable production to resume over the next couple of days.
Deputy Prime Minister and Minister Responsible for Mining Dr Puka Temu
yesterday called on Lihir Mining Workers on strike and the Mine
Management to amicably resolve their dispute.
Dr Temu told The National that he had not been made officially aware of
the dispute, but he hoped that the matter would be resolved through
dialogue and that mine operations are not disrupted.
He said he hoped to be briefed today so he could be able to make a
detailed statement on the mine dispute.
Lihir sources in Port Moresby were contacted to confirm the dispute but
have yet to respond.
 
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