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Chaarat Gold Holdings Ltd shares dropped on Tuesday following a fatal incident involving an employee who sustained injuries at the Kapan mining operation on Saturday.
Chaarat is a gold miner with operations in Armenia and assets in Kyrgyzstan. Its shares were down 12% to 9.50 pence each in London on Tuesday morning.
The company said that the area where the incident occurred was closed immediately and an internal investigation is underway. It is also working with authorities to help their investigation into the incident.
Chaarat added that mining operations in all other areas are continuing and production guidance for the year from the Kapan mine remains unaffected.
Chief Executive Mike Fraser said: ‘We deeply regret this tragic incident, and we offer our sincere condolences to the family, friends and colleagues of the deceased. We believe all injuries are preventable, and a serious injury resulting in a fatality is particularly concerning.
‘We are committed to identifying and resolving the underlying issues that have resulted in this fatality and will continue to work with our teams towards creating an injury-free workplace.’
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