Join our daily newsletter At The Bell to receive exclusive market insights
- Evolution Mining (EVN) stops mining activities at the Ernest Henry copper-gold operation due to severe weather in Queensland’s northwest over the past week
- The company removed all personnel from the mine on March 8 after water entered the mine workings
- Once it was safe to do so, the Ernest Henry team assessed the impact of the weather event and came up with a recovery plan
- Evolution says it expects to restart mine workings in around six weeks
- Shares in EVN are up 0.54 per cent and trading at $2.79 at 11:45 am AEDT
Evolution Mining (EVN) was forced to halt operations at the Ernest Henry copper-gold mine last week following a severe weather event in Queensland’s northwest.
The company said all personnel were removed from the mine on March 8 after water entered the mine workings and forced the suspension of all production activities.
After the rainfall ceased, and once it was safe to do so, EVN staff re-entered the mine to assess the impact of the weather event and come up with a recovery plan.
Based on inspections, Evolution expects to restart mine operations in around six weeks.
Evolution CEO and Managing Director Lawrie Conway said its priority was to ensure all personnel were safe.
“Whilst this significant weather event that occurred at Ernest Henry last week has suspended operations, our priority has been to ensure all personnel are safe, including as we move to the recovery phase,” Mr Conway said.
He added that the “better than planned” cash position expected for the March quarter would help cover the impact of the incident at Ernest Henry.
The company has also brought forward surface maintenance plans.
Shares in EVN were up 0.54 per cent and trading at $2.79 at 11:45 am AEDT.
