Mine closure impact on global copper supply – report
Copper price collapse and containment measures are posing a significant risk to global copper mine supply, says Wood Mackenzie.
Copper price collapse and containment measures are posing a significant risk to global copper mine supply, says Wood Mackenzie.
Rio Tinto, BHP and Fortescue are moving workers who would usually commute from major cities to stay on site for a minimum of two weeks.
El Gallo operation in Mexico is the only one still operating.
On a global scale, work is grinding to a halt and mines are being placed on temporary care and maintenance.
The combined value of the top five metals & mining deals stood at $1.2 billion.
The company also announced that its operations were not affected by the spread of the covid-19 virus.
The miner said it is sidestepping what it dubbed “the virus turmoil.”
Concerns over supply and the rush on gold purchases has sent futures in New York skyrocketing to the highest premium over spot gold in London in decades.
Regulus’ focus is on the AntaKori project in Northern Peru where it drilled continuously throughout 2018.
Activities at the Côté gold project in Ontario are not impacted, as mining, exploration and development have been deemed "essential" activities.