SEMAFO Inc. (TSX:SMF)(OMX:SMF) today announced that operations have been suspended at its Samira Hill mine in Niger. The Corporation’s decision to suspend operations was disclosed in May 2013, noting that the mine would be placed in care and maintenance prior to year end.
The Nigerien authorities have been advised and procedures initiated with employees and the labor union regarding termination. Employees will remain on site at Samira Hill for upkeep purposes until September 30, 2013 pending the sale of the mine .
The cessation of operations at this time ensures an adequate inventory of supplies to resume normal activities in the event the transaction closes.
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently operates two gold mines: the Mana Mine in Burkina Faso and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO’s strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
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We acknowledge the [financial] support of the Government of Canada.