The company attributed weak Q1 results to heavy rains, unplanned outages, regulatory delays linked to last year’s dam failure, and ongoing disruptions caused by the coronavirus.
Value of low-grade ore stockpile at the Peñasquito mine dropped, raising average costs by $64/oz. and negatively affecting adjusted earnings by $0.04/share.
The head of a group of Canadian oil sands producers, including some of the world’s biggest energy companies, said Monday that the consortium has committed to reducing the use of fresh water at some operations.