Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Hecla Mining (NYSE:HL) announced Tuesday it is suspending operations at Casa Berardi until April 13, 2020 to comply with the Government of Quebec’s orders.
“The Government of Quebec ordered the mining industry to reduce to minimum operations as part of the fight against the covid-19 virus, so we are suspending our Casa Berardi operations,” said Phillips Baker, Hecla’s president and CEO.
The company’s estimates for production and cost will be reviewed with the first-quarter earnings release.
Casa Berardi produced 134,409 gold ounces in 2019. The company’s estimates for production and cost will be reviewed with the first-quarter earnings release, it said.
