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November 4, 2020

Coronavirus company news summary – Escondida copper production declines – Ouray Silver Mines has four workers test positive – Torex Gold reports Q3 profit rise

By Matthew Hall

4 November

The Escondida copper mine operated by BHP registered a 6% decline in output to 94,100t in September compared to the same period in 2019. The mine’s production between January and September, however, increased by 2.4%. Chilean company Codelco, the largest copper miner, recorded a 9.6% increase in production to 159,200t from last year, despite restrictions imposed to contain the spread of Covid-19.

Ouray Silver Mines, a US-based mining services company, has suspended its operations as four of its employees tested positive for Covid-19. All the employees who tested positive worked out of the same office. The mine operator initiated the testing process for all the workers to ensure a safe environment for its workforce.

Mexican miner Torex Gold Resources posted profits in Q3 as gold prices continue to rise. The company reported record net earnings for the September quarter at $60.3m from revenues of $256.5m, compared with $17.1m net income on revenues of $198.2m for the same period in 2019. Torex produced 131,790oz gold at $877 per oz at the El Limon Guajes mine, selling more than 133,000oz of the metal for $1,884 per oz.

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