USGS releases first study to assess global earthquake risk to mineral supplies
Earthquakes have the potential to substantially affect mining operations, leading to supply chain disruptions that adversely affect the global economy.
Operations were resumed at Capstone Mining’s Pinto Valley copper mine in Arizona after fire crews were able to partially control a wildfire affecting 96,000 acres of land in the Woodbury area.
According to Capstone (TSX:CS), the Southwest Area Incident Management Team is still working around Pinto Valley as the fire remains a serious concern.
Emergency personnel reported that easterly winds pushed the fire west, away from Pinto Valley
However, the Vancouver-based miner said it does not expect the fire -which prompted them to halt operations on June 20- to have an impact on its ability to meet operating or cost guidance. For 2019, Pinto Valley is expected to produce between 115-125 million pounds of copper.
“With fire crews still conducting operations in the area to address the ongoing risk of the Woodbury Fire, there may be some impact to day-to-day operations at Pinto Valley,” the Canadian firm said in a media statement. “However, as containment of the fire continues to improve, we anticipate being able to return to normal operating levels shortly. The health and safety of our people is our top priority and we will communicate any changes to these plans should the need arise.”
Pinto Valley is an open pit copper mine and associated milling, located 125 kilometres east of Phoenix. Proven mineral reserves have been estimated at 255 million tonnes at 0.33% Cu, while probable reserves are of 153 million tonnes at 0.28% Cu.
