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Business Maverick

World’s Miners Slowly Grind to a Halt on Virus Restrictions

An increasing number of miners are being forced to halt or curtail production and processing as governments worldwide implement emergency measures to stem the spread of the coronavirus.
Bloomberg
Inside The Mountain Pass Mine As Rare Earths Face Trade War Threats A dump truck moves raw ore inside the pit at the Mountain Pass mine, operated by MP Materials, in Mountain Pass, California, U.S., on Friday, June 7, 2019. America's only rare earths producer, MP Materials, has been shipping all its output from the Mountain Pass mine in California to China because there is currently no refining capacity available to handle its production anywhere else in the world, its biggest shareholder said last month. Photographer: Joe Buglewicz/Bloomberg

Unprecedented disruptions to operations and supply chains are threatening the outlook for industrial and precious metals, just as demand is hit by concerns about a global recession. Platinum powerhouse South Africa is shutting its mines for three weeks, while operations in copper giants Chile and Peru have been curtailed by nationwide lockdowns.

Here’s how some key companies are being affected by the pandemic. For a more detailed spreadsheet of disruptions, based on the latest publicly available data at time of writing, click here.

CompanyMineProductImpact
Rio TintoRichards Bay Minerals in South AfricaZircon, rutile, iron, slagProduction will halt by midnight Thursday, company will put furnaces on care and maintenance
Rio TintoAluminium assets in CanadaAluminiumCompany will slowproduction in Quebec, in line with provincial curbs on activity
ValeVoisey’s Bay in CanadaNickel-cobalt-copper concentrate, copper concentrateMine put on care and maintenance for four weeks, copper-concentrate production at Long Harbour will be reduced proportionally to the period of the stoppage
CodelcoCopper mines in ChileCopperReduced capacity for 15 days beginning March 19
Freeport-McMoRanCerro Verde mine in PeruCopperMine put under care and maintenance for 15 days beginning March 16
Hochschild MiningSan Jose mine in ArgentinaGold, silverProduction halted to comply with quarantine measures
LynasRare earths plant in MalaysiaRare earthsProduction at processing plant halted until at least March 31
SibanyeAll mines in South AfricaPlatinum, palladium, rhodium, goldPreparing for care and maintenance in compliance with South Africa’s three-week lockdown
NewmontYanacocha mine in Peru, Cerro Negro in ArgentinaGoldPreparing for care and maintenance
Agnico EagleMeliadine and Meadowbank minesGold19% of mine workers sent home for four weeks

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