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Supply problems hit GMA Resources again

Tue, 07th Jul 2009 10:29

Shares in GMA Resources fell after the Algeria-focused gold miner said inadequate supply of spare parts led to a shortfall in production in June.The company's Amesmessa mine produced 2,503 ounces of gold and 402 ounces of silver during the month.The firm said it was experiencing delays in receiving supplies due to heavy traffic at Algerian ports and bureaucratic obstacles for international shipments.GMA is seeking to cope with the delays by moving to roll-on/roll off shipping, with a truck collecting goods from Europe returning to Algeria by daily ferry from Marseilles in France.GMA has had problems with deliveries in the past. It had difficulties importing adequate explosives to conduct mining activities until the Algerian government moved to overcome supply problems last year.