(Alliance News) - Avesoro Resources Inc on Thursday said ore production volumes will be reduced "for some time" after a wall and ramp failure occurred at the New Liberty gold mine in Liberia.
Shares in Avesoro were 11% lower at 85.00 pence each in London on Thursday morning.
The Africa-focused miner said the failure happened at the Kinjor-East pit at the project on Tuesday, and as a result, mining activities at that area of New Liberty have been suspended.
There no injuries or any equipment damage, Avesoro added.
Mining is continuing in the Marvoe and Kinjor-South pits though ore production volumes there have been hampered by the Kinjor-East failure.
Avesoro reiterated that it will not yet issue any production or cost guidance for the current financial year.
The failure at New Liberty is the latest operational difficulty for the miner which has also reported issues in its Youga gold mine in Burkina Faso.
In August, the company reported that an armed group of artisanal miners broke into the facility to steal ore. A number of heavy mining equipment, haul trucks and excavators were vandalised beyond repair.
By Eric Cunha; ericcunha@alliancenews.com
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