Miners’ response to Brazil dam disaster still weak — report
The Responsible Mining Foundation says vast majority of companies are still unable to demonstrate that they are reviewing how effectively they are managing TSF-related risks.
The Responsible Mining Foundation says vast majority of companies are still unable to demonstrate that they are reviewing how effectively they are managing TSF-related risks.
First-quarter production was within guidance and the Jacobina, El Peñón, and Minera Florida mines all exceeded their production targets.
The temporary suspension of production is expected to last for at least six weeks.
Demand has slowed for a decade, and a surplus was expected this year even before the current crisis.
Valcambi, Argor-Heraeus and PAMP were shut by a local government order on March 20, 2020.
Activities at the Guanajuato and Topia mines are halted until April 30.
The stock has recovered about 30% in the past week, but is still trading at levels last seen in 2019 after a dam disaster that killed 270 people.
The amount of gold stored in vaults in New York has risen by nearly 2 million ounces.
More than half of them belong to Vale, whose Córrego do Feijão mine’s tailings collapsed last year, releasing a torrent of mining waste that killed about 270 people.
The company has drilled 9,000 metres of a 15,000 metre drill program planned for Goliath this year.