Coronavirus company news summary – Tardan reports cases – Colombia coal production declines – Hudbay Minerals delays extension

22 May 2020 (Last Updated May 22nd, 2020 09:20)

22 May

Auriant Mining’s subsidiary Tardan Gold has reported 26 Covid-19 cases among its 271 employees working at the Tardan mine in Tyva, Russia. The tests were carried out as part of a government initiative to contain the spread of the virus in the region. All the employees showed no symptoms. In accordance with the instructions of the Russian authority responsible for the containment of Covid-19, Tardan Gold has implemented quarantine measures. All employees tested positive have been placed under observation in a separate quarantine facility at the mine.

Coal production in Colombia has declined 7.2% in the first quarter due to low prices and the impact of quarantine measures in effect. National Mining Agency head Silvana Habib said that the fall in prices in addition to the reduction in operations of some companies as a preventative contingency measure are the principal causes of the decrease in coal production. A national lockdown started in Colombia in March, which forced many mines to reduce operations.

Canada-based mining company Hudbay Minerals has announced that a delay of up to four months is expected before it can start mining an extension at its Constancia copper mine in Peru. Hudbay president and CEO Peter Kukielski said in February that it expected to start mining the Pampacancha satellite deposit this year, but restrictions imposed to fight the Covid-19 pandemic have limited the ability of the government to consult with the local indigenous community.

Iron ore on the Dalian Commodity Exchange closed 2.1% higher at $101.67 a tonne, increasing for a seventh straight session. The commodity has recovered lost ground as worries about its tightening supply from Brazil prevailed over a bleak outlook for steel demand across the globe.