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September 2, 2020

Coronavirus company news summary – Peru copper production recovers – TerraCom reports loss – Exxaro Resources update on Covid-19 testing

By Matthew Hall

2 September

A Peruvian government official said that copper mining in the country had almost completely recovered from the severity of the Covid-19 pandemic, according to Reuters. However, copper production in the country fell 2.2% in July to 198,796t, compared to the same period last year. Peru is the world’s second largest producer of copper.

Australia-based coal miner TerraCom has reported an annual loss of around $146.1m over the 2020 financial year (FY), compared to an $11.3m loss in FY2019. The company nonetheless reported some strong production and sales figures despite coronavirus-linked restrictions. The Australian miner said that refinancing risks related to a large eurobond repayment that is due for next year had raised “uncertainty” over the company’s ability to remain in business.

South African mining company Exxaro Resources has conducted over 100 Covid-19 tests at two of its testing laboratories. These Covid-19 PCR testing laboratories, according to the company’s CEO Mxolisi Mgojo, form a key part of Exxaro’s health and wellness strategy. They are located at Grootgeluk mine’s Marapong occupational health facility in Limpopo and the Matla coal mine’s occupational health centre in Mpumalanga.

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