Exploring Mining Podcast: News from (NYSE: GOLD) (NYSE: CCJ) (NYSE: EXK) (ASX: AGD)
Point Roberts, WA and Delta, BC - April 9, 2020 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Exploring #Mining #Podcast: News from (NYSE: GOLD) (NYSE: CCJ) (NYSE: EXK) (ASX: AGD)
Barrick Gold Corporation (NYSE:GOLD), through its joint venture with the Tanzanian government, Twiga Minerals Corporation, has announced a support program to assist Tanzania in combating COVID-19. This will involve the commitment of "$1.7 million in the form of critical equipment and expertise to help prevent the spread of the virus." The company announced similar moves in the Democratic Republic of the Congo (DRC), where it is contributing $1.5 million, and in Zambia, where it gave a $530,000 cheque to that country's Minister of Health.
Cameco Corporation (NYSE:CCJ) is implementing temporary operational changes at its fuel services division facilities in Ontario as a response to challenges imposed by the COVID-19 pandemic. Cameco President and CEO Tim Gitzel explained:
"While our fuel services facilities have been able to operate safely, it has become increasingly challenging to maintain a sufficient roster of qualified operators for the UF6 plant. The UF6 plant is designed for continuous operation, and we need to prevent unplanned interruptions arising from personnel shortages.
Therefore, after weighing many factors, including the state of the pandemic, we made a measured decision to suspend production in a careful, planned manner at the UF6 plant and the UO3 refinery which feeds it. We will watch closely how the situation evolves over the next four weeks before making further decisions."
"Even though our foremost concerns at this time are the health of our employees, safely managing the COVID-19 pandemic risk and the care and maintenance of our mining operations, Endeavour delivered solid Q1, 2020 performance at our mining operations. We met production guidance prior to suspension, Guanacevi neared completion of its operational turn-around and Bolanitos and El Compas continued to make good progress."
Austral Gold Limited (ASX:AGD) has reported first quarter 2020 production of 17,159 gold equivalent ounces, which is up 34 percent from the prior year quarter, but down 4 percent from production of 17,953 gold equivalent ounces in Q4 2019. Austral Gold CEO Stabro Kasaneva said:
"We are closely monitoring the developments around COVID-19 and we have implemented several precautionary measures to protect the health of all our people which is our top priority. The Company is also working on contingency plans in the event we have supply-chain disruptions to gold or silver deliveries or the receipt of essential equipment and materials to operate. We are being conservative with the use of our cash in the event that our operations are temporarily curtailed. We have minimised capital expenditures, and exploration activity has been streamlined to brownfield areas within the Guanaco/Amancaya district. Starting April 2020, the Guanaco/Amancaya mines have been operating at 75% capacity due to changes in work shifts to minimise COVID-19 risks at the mine site."
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