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.
Canada’s IAMGOLD Corp. (TSX IMG) (NYSE: IAG) is closing its Toronto office for one week after one of its employees tested positive for Covid-19.
In a media statement, the miner said that the employee was last in the Toronto office on March 6, 2020, and is now in self-quarantine at home and in stable condition with moderate symptoms.
Kinross and Glencore were also forced to temporarily shut down their headquarters due to the coronavirus outbreak
According to IAMGOLD, the employee attended two private company gatherings and the Northern Ontario Night at the Steam Whistle Brewery, an event that was held on March 2, 2020, and that is related to the Northern Ontario Mining Showcase that takes place within the Prospectors and Developers Association of Canada’s annual conference. The employee, however, did not attend the PDAC convention or other events.
IAMGOLD also said that those who attended the company events have been notified of the situation.
“In addition to closing the Toronto office, we are conducting a deep cleaning and disinfection of the office,” the corporate statement reads. “Toronto office employees have been asked to work from home until the end of the week, March 20th, 2020, at which point the company will reassess.”
Infections caused by the novel coronavirus in Canada added up to 244 as of Saturday, March 14, 2020, with Ontario leading in the number of cases, followed by British Columbia and Alberta.
Health authorities in the country have asked people to avoid travelling abroad unless absolutely necessary, as well as to refrain from large gatherings and to practice continued and proper hand hygiene.
