Coronavirus company news summary – Lundin Gold restarts in Ecuador – Pan American Silver restarts in Mexico – FenixOro begin development

2 June 2020 (Last Updated June 2nd, 2020 09:28)

2 June

Lundin Gold has announced that its first phases for restart of operations at Fruta del Norte have begun. Ecuador’s national government issued Covid-19 protocols on 15 May that set out health and safety guidelines for the mining industry to restart operations. Lundin has shipped all of the concentrate and doré stored at the site since it suspended operations on 22 March. Additionally, the company is transporting reagents, spare parts and other supplies that had been accumulating at the port of Guayaquil to the site.

Pan American Silver has restarted operations at its Mexican mines Dolores and La Colorada that were previously suspended by Covid-19 restrictions. Prior to this, the company had restarted its Shahuindo, La Arena, San Vicente and Manantial Espejo operations. Initially, the mines are operating at reduced capacities to accommodate new protocols in response to the pandemic. The company is currently waiting for the regulatory authorisation to resume the Huaron and Morococha operations in Peru.

FenixOro Gold has formally commenced its Phase 1 exploration programme at the flagship Abriaqui project in Antioquia, Colombia after receiving exemption from Covid-19 work restrictions. The $2.9m exploration programme comprises mapping, sampling, ground magnetometry and 6000m of diamond drilling. Pre-drill field work that started earlier this year on the project was temporarily placed on hold when the Colombian federal government mandated a national lockdown due to Covid-19 in early April.

Prices of copper have increased as stronger manufacturing data from China as well as the easing of lockdown measures stoked expectations of healthier demand prospects. Benchmark copper on the London Metal Exchange traded 0.5% up at $5,404 a tonne in official rings, Reuters reported.