Corona disturbs many mining companies, but not all
The investigation covers 36 countries. Gold, copper and silver were particularly affected. At the end of June, 111 gold mines, 101 silver mines and 51 copper mines were affected, mainly in Latin America. Many mines had to be closed or shut down. However, suspended companies around the world are now ramping up work in mines again as rules have been relaxed.
Some countries declared mining to be indispensable because of the economic dependence on industry. This was particularly the case in Latin America, Canada and South Africa. As a result, many did not have any impact on exploration or production. At present, there is more of a risk of regional corona outbreaks, which could paralyze one mine or another for a certain period of time. Underground mines, some of which have narrow adits, do not have an easy time of it, as it is naturally easier to keep a distance in an opencast mine.
In any case, there are gold and also silver companies that have come through the pandemic quite well. Vizsla Resources - https://www.commodity-tv.com/play/newsflash-with-vizsla-resources-after-sensational-drill-results-and-doubling-of-the-share-price/, for example, was able to resume exploration work on its Panuco silver project in Mexico at the end of May. This project is located in an area with epithermal silver and gold deposits. The 2020 drilling program includes 20 targets and Vizsla Resources is working to complete the project as planned.
Among the producers, one can observe pleasing results from Caledonia Mining in Zimbabwe: Despite the pandemic, gold production in the Blanket Mine increased in the second quarter compared to the same quarter last year: https://www.commodity-tv.com/play/caledonia-mining-virtual-roadshow-investor-presentation-and-qa/.
Current company information and press releases from Vizsla Resources (https://www.resource-capital.ch/en/companies/vizsla-resources-corp/) and Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp/).
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