Yamana Gold to Resume Full Operations at Cerro Moro After Shutting Down Due to COVID-19
Following its mid-March transitioning of Cerro Moro to a reduced production schedule, Yamana Gold (NYSE: AUY) announced yesterday that it plans to return the Argentine mine to full production. The company had limited operations at Cerro Moro in order to comply with a government directive meant to foster social distancing. On April 3, however, the government identified mining as an essential business, and the company began to remobilize the asset.
It plans to "resume operations in an orderly and gradual manner with attention to health and safety requirements," the company said.
Cerro Moro isn't the only one of Yamana's assets that has been affected by the novel coronavirus outbreak. On March 24, Yamana placed Canadian Malartic on care and maintenance following the Quebec government's order suspending all non-essential business. Originally set to expire on April 13, the order was recently extended to May 4. The company says it is "seeking clarification if the extension applies to mining companies."
Source Fool.com
