Endeavor Mining record cash flow in the first quarter
Gold miner Endeavor Mining said that the company’s start this year is gratifying, production and costs are in line with the annual guidance level, and the new crown epidemic has not had a major impact on operations. In the first quarter of this year, Endeavor’s gold production reached 172,000 ounces, achieving a record operating cash flow of $ 126 million, and cash reserves of $ 357 million.
PT Freeport Indonesia strengthens new corona virus detection
PT Freeport Indonesia, operator of Grasberg, the world’s second largest copper mine, will conduct extensive new corona Virus testing for its employees. Earlier, there were more than 100 cases of new corona virus infection in the mine operation area. A spokesman for the company said that the operation of the Grasberg mine has not been disrupted, but the company will still closely monitor the situation at the site, the company’s employees and the communities where it is located.
Zambia promotes the formalization of artisanal and small mining companies
ZCCM-IH, Zambia’s national mining investment company, said that Zambia has built 10 gold processing plants to promote the formalization of artisanal and small mining companies and diversify resources beyond copper mines. ZCCM-IH stated that its goal is to have a monthly gold production of 25 kg at the mill and dip plant by the end of 2020.
