Centerra Gold announced Wednesday that a labor strike has ended at its Boroo gold mine. However, work will not begin at the mine due to its operating license being suspended last week by the Mongolian government.
Ending the strike, the Canadian-based Centerra Gold said it reached agreement with Boroo gold workers on matters of future benefits.
"The company believes the settlement will not have a material impact on future cash costs," Centerra said in a statement.
Seeking higher wages, employees of Boroo gold went on strike last month.
Mongolian authorities suspended the operating license for the Boroo gold mine on June 12, citing problems with record-keeping, incorrect land use and improper operating procedures.
Company officials expect 160,000 to 170,000 ounces of gold to be produced at Boroo this year.
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