Mining

Omicron Wave Hits the Mining Industry

Omicron Wave Hits the Mining Industry
Mining News Pro - It has been nearly 2 years since the coronavirus hit the global and put different impacts on the industries and especially mining. Mining has faced with different types of this virus and now the new type which is called omicron has come off. The new type which is killing people around the world is now a new concern for the mining industry however in the past week some got damages from it.
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According to Mining News Pro - Shares in Fresnillo (LON: FRES) fell more than 14% on Wednesday after the Mexico-focused miner cut its silver production forecast for 2022, saying that labour absences fuelled by the Omicron variant were expected to have a greater impact in the earlier part of the year than anticipated.

The precious metals producer, which operates seven mines in Mexico, now expects to churn out between 50.5 million and 56.5 million ounces of silver this year.

Attributable gold production for 2022 is also expected to decrease, staying in the range of 600,000 to 650,000 ounces, driven mainly by the Noche Buena mine coming to the end of its productive life.

The new guidance was provided alongside an update on 2021 production, with silver output falling marginally short of forecast figures, but gold production topping expectations.

Silver output in 2021 reached 53.1 ounces, slightly below the 53.5 to 59.5 million ounces (including Silverstream) previously anticipated, but flat when compared to 2020.

Attributable gold production for the full year came in ahead of expectations, but was still down 2.4% year-on-year at 751,200 ounces. Fresnillo said this was due to lower ore grade at Cienega, and lower grade and volume processed at the San Julian Veins. This was offset by a higher volume and grade at Noche Buena.

The company faced operational challenges last year at the Herradura mine, with increased silt restricting the plants filter capacity, Fresnillo said. Production in this period was down 30% year-on-year at 150,300 ounces, which was also a 13% drop from the previous quarter.

Ivanhoe Mines Reports No Impact from the Omicron Variant on Any of Its Operations

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) reports that the new COVID-19 variant, Omicron, has had no impact on any of its mining or mine development operations in South Africa or the Democratic Republic of Congo (DRC).

No cases of the new variant have been detected at the company's Kamoa-Kakula and Kipushi projects in the DRC and, while there have been some recent infections among employees and contractors working at the company's Platreef Project in South Africa, all people infected to date have either been asymptomatic or experienced very mild symptoms.

Approximately 92% of Ivanhoe Mines' team based in Sandton and approximately 86% of Platreef's employees and contractors have received COVID-19 vaccinations.

Ivanhoe Mines plans to provide a progress update on Kamoa-Kakula's Phase 2 expansion next week, and also expects to soon provide an update on development progress at the Platreef Project.


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