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October 14, 2020

Coronavirus company news summary – OceanaGold lays off Phillipines workers – K92 Mining registers robust gold production in third quarter – Ecuador’s Curipamba project restarts

By Matthew Hall

14 October

Gold miner OceanaGold has laid off 496 permanent staff, who mainly hailed from the Nueva Vizcaya and Quirino provinces of the Philippines. This is the first phase of layoffs at the company’s operations in the Phillipines. The company also terminated 400 contractual jobs. OceanaGold said it could also execute phase two of permanent layoffs next month. OceanaGold CEO Michael Holmes said that the layoffs are due to a road blockade by local government, pending the FTAA renewal, which in turn has stalled the company’s operations for the last 15 months.

Amid the Covid-19 pandemic, gold producer K92 Mining has reported an output 21,298 oz of gold, 488,020 lbs of copper and 7,127 oz silver for a total of 22,261 gold equivalent oz, which is a 16% increase from the corresponding period of Q3 2019 at its Kainantu gold mine in Papua New Guinea. The quarter also achieved record mill throughput of 64,702 tonnes following successful commissioning of the Stage 2 process plant expansion to double throughput from 200,000 tpa (~550tpd) to 400,000 tpa (~1,100 tpd).

Exploration companies Adventus Mining and Salazar Resources have provided an update on recommencing site operations at the Curipamba project in Ecuador following suspension. These include six drill rigs in support of the ongoing El Domo deposit feasibility study and regional drilling of exploration targets within the greater Curipamba minerals concessions.

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