Tiny but vital metal markets rush to adjust to Chinese clampdown
A bigger clampdown looks set to have far-reaching ramifications for supply chains feeding American defense and chip-making industries.
Nevada Gold Mines has announced measures to provide financial and logistical support to mitigate the impact of the covid-19 pandemic on local communities.
At the state level, the company has committed an initial $1.5 million to the Nevada covid-19 Response, Relief and Recovery Task Force, as well as offering to support the effort through its supply chain.
The company is developing a framework for a fund to assist small businesses along the I-80 Corridor in northern Nevada
Nevada Gold is also developing a framework for an ‘I-80 Fund’ to assist small businesses along the I-80 Corridor in northern Nevada.
In Elko, Battle Mountain, and Winnemucca, the closest towns to the company’s operations, the Nevada Gold has to date committed a total of $275,000 to support these local communities with food supplies and other basic necessities.
In southern Nevada, it has committed $100,000 to Three Square Food Bank.
“We have ensured that our operations are working as safely and responsibly as possible but it is not only our employees that we are concerned about — we are also using our resources to support our friends and neighbors, and particularly seniors,” managing director Greg Walker said.
The company is the largest global gold producing complex and a joint venture between Barrick Gold (61.5%) and Newmont Corporation (38.5%) and operated by Barrick.
