- AngloGold Ashanti (AGG) has suspended mining activities at its Cerro Vanguardia project in Argentina due to the coronavirus
- The news comes after the countrywide restrictions on travel and border closings were implemented overnight
- The company will be required to suspend mining activities during the restriction period, which is scheduled to last until the end of March
- The worldwide outbreak has so far not impacted AngloGold production
- AngloGold is down 13 per cent on market close, trading at $5.20 per share
AngloGold Ashanti (AGG) has suspended mining activities at its Cerro Vanguardia project in Argentina due to travel restrictions relating to the COVID-19 pandemic.
The news comes after the countrywide restrictions on travel and border closings.
Currently, there are no cases of COVID-19 at the mine, the company’s only project in Argentina, which is set to account for about 6 per cent of this year’s production.
The company will be required to suspend mining activities during the restriction period, which is scheduled to last until the end of March.
AngloGold said it will continue to monitor safety and environmental activities. Plans are being developed to help regain delayed production once the mining resumes.
The company remains in a state of high-alert and preparedness to deal with the global challenge presented by the COVID-19 outbreak. The pandemic has so far not impacted AngloGold production, although the company is, however, constantly monitoring the situation as it unfolds.
AngloGold is down 13 per cent on market close, trading at $5.20 per share.