Force Majeure lifted at local gold company
Illustration photo
Besra Gold Inc.’s COO Darin Lee released a memorandum to Phuoc Son employees and contractors which officially declared an end to Force Majeure as of 10:30 a.m. on Monday March 10.
The company declared Force Majeure at 6 p.m. on March 7. Accordingly, all employees and contractors were requested to stop working until further notice.
“Due to circumstances beyond our control and despite the fact that we paid the supplier, our order of explosives was not delivered today,” Lee explained in his memorandum on March 7.
The company had to suspend all contractual commitments with suppliers during the order. A the same time, salaries for employees of Phuoc Son equally fell to the minimum wage prescribed by the government and allowances and bonuses were cancelled, stipulated the memorandum.
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