Coronavirus company news summary – Calibre Mining reports strong third quarter gold output – South Africa trade unions protest over Covid-19 impact – Aurubis expects stable ore refining charges next year

8 October 2020 (Last Updated October 8th, 2020 12:51)

8 October

Gold producer Calibre Mining has reported strong production results of 45,341oz for the third quarter this year. The company produced 23,262oz from its Libertad mine and 22,079oz from El Limon mine. Earlier this year, Calibre revised its 2020 guidance to between 110,000oz and 125,000oz of gold production, due to the impact of the covid-19 pandemic. In August, the company increased its gold production potential by buying the remaining 70% stake in the Eastern Borosi project from Canadian firm IAMGOLD.

COSATU, South Africa’s biggest trade union group, has urged members to stay away from work on 7 October to protest job losses, salary cuts, as well as corruption cases. The protests come as a result of ill treatment of workers during the Covid-19 pandemic crisis, Reuters reported. South African President Cyril Ramaphosa said that his government is concluding an “economic recovery plan to encourage a rebound” in employment. He also promised strict action to deal with those involved in corruption cases.

A senior executive at European copper refiner Aurubis said that charges to refine copper concentrate into metal should remain stable next year. Aurubis expects stable copper refining charges as the copper industry has come well through the Covid-19 crisis, Reuters reported. The news agency quoted Aurubis senior vice-president Michael Hellemann as stating: “Mines are working at high capacity and ever more concentrate is coming onto the market. I think we are facing comfortable concentrate supplies in 2021.”