Corronavirus company news summary – Chile faces copper surplus – Covid-19 outbreak among Polish miners – Cameco to restart operations

12 May 2020 (Last Updated May 12th, 2020 09:24)

12 May

Chilean industry group Sonami has reported that the copper market in the country will witness a supply surplus of 200,000t this year as the economic impact of Covid-19 hits demand for the metal globally. Sonami president Diego Hernandez was quoted by Reuters as saying that the association anticipates supply to decline by 3%. In early April, it predicted that copper miners in the country were planning to reduce production amid increasingly strict measures to contain the spread of the virus.

Poland’s coal mining region in Silesia is witnessing an increase in Covid-19 cases since the end of last month. Chinese news agency Xinhua reported that almost 3,800 of the more than 16,000 confirmed cases were registered in the region. A total of 600 miners have been diagnosed with the virus so far. Due to this, a large-scale testing operation was conducted among 10,000 miners, with results expected this week.

Cameco is set to restart production at its Port Hope Conversion Facility’s UF6 plant and Blind River Refinery which were placed in a temporary safe shutdown. They were closed down for approximately four weeks as screening protocols and other measures Covid-19 safety measures contributed to workforce uncertainty at the UF6 plant.

Canada-based Pure Gold Mining has confirmed that its Red Lake Mine in Ontario remains on track to pour its first gold by the end of this year. Development activities at the mine are continuing to operate normally, with no significant impact to date beyond the implementation of additional safety measures. The first gold pour aligns with a rising gold market. The company has not reported any incidences of Covid-19 at its operations.