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Aureus Mining says claim by contractor is 'frivolous'

Published: 08:36 08 Dec 2015 GMT

Ingots
New Liberty, in Liberia, saw first gold poured in June

Liberia-based gold miner Aureus Mining (LON:AUE TSX:AUE) is facing an arbitration hearing over its termination of contractor International Construction & Engineering's (Seychelles) contract in 2014.

ICE was employed to carry out civil and earth works at the New Liberty gold mine, but the contract ended with 60-70% done with Aureus’s own construction manager completing the work using direct labour and contractors.  

Aureus said it strongly believes that the request is frivolous, without merit and opportunistic and it intends to vigorously defend itself against the claims.

Management does not believe any material amount will be payable to ICE, it added, and the claim will have no impact on operations at New Liberty.

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