While bullish on copper, the miner has also cut production guidance for 2020 to between 620,000 and 670,000 tonnes.

Mining royalties would rise to 8% from 2% for raw precious stones. Rough industrial stones would attract a 6% royalty rate while cut industrial stones would be taxed at 3%.

Sector is experiencing the largest power blackouts in more than a decade.

Massawa, one of the highest-grade undeveloped open-pit gold reserves in West Africa, is 20 km away from Teranga’s flagship Sabodala mine.

Production, hoisting and processing have stopped immediately at Cullinan, Finsch and Koffiefontein mines.

Company has also completed over 45,000 metres of combined aircore, diamond and reverse circulation drilling in the Anaconda region.

The miner, which operates the Mutamba project in a joint venture with Rio Tinto, says permit is valid to April 2044.