Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Bullboard - Stock Discussion Forum Golconda Gold Ltd V.GG

Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a gold producer and explorer with mining operations and exploration tenements in South Africa and the United States. Its principal business activities are the exploration, development, and operation of gold mining properties. It operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing mine which also has the rights to certain mineral... see more

TSXV:GG - Post Discussion

Golconda Gold Ltd > South Africa resumes mining.....Good for Galane galaxy optn.
View:
Post by ompong12 on Apr 18, 2020 12:31pm

South Africa resumes mining.....Good for Galane galaxy optn.

https://www.bloomberg.com/news/articles/2020-04-16/south-africa-mines-to-work-at-50-of-capacity-as-lockdown-eases

South African Mines Reopen at 50% Capacity as Lockdown Eases

By 
 Updated on 
  •  
    Government takes first steps to ease nationwide lockdown
  •  
    Prolonging shutdown threatens marginal mines and jobs

Sign up to our Next Africa newsletter and follow Bloomberg Africa on Twitter

 
 

South Africa allowed mining companies to resume operations at half their normal capacity as the government takes its first steps to ease a nationwide coronavirus lockdown.

 
 

All mining operations must observe strict health protocols, including screening and testing workers for coronavirus, Cooperative Governance Minister Nkosazana Dlamini-Zuma and Mines Minister Gwede Mantashe said in a televised briefing. The government is concerned about the risks of idling South Africa’s deep level mines for much longer, Mantashe said.

 
 

President Cyril Ramaphosa extended a 21-day lockdown by two weeks to the end of this month. Workers in the country’s mines, which employ more than 450,000 people, are particularly vulnerable as they work in cramped shafts that reach more than two miles underground, before returning to overcrowded hostels and shanty towns.

 

Still, a prolonged shutdown threatens marginal mines, putting more than 10% of the jobs at risk, a lobby group for South Africa’s largest producers said Wednesday.

There must be a “phased recall of workers” as mines ramp up production, said Mantashe, adding that the industry may only be fully operational by next month. “This will help minimize risk of accidents and disasters and it will also help sustain the infrastructure in those mines.”

Read More: World’s Deepest Mines to Take Weeks to Reopen After Shutdown

While mining companies had been given permission to resume partial operations, police blocked employees from reporting for work as the changes hadn’t been gazetted, said Johan Theron, a spokesman for Impala Platinum Holdings Ltd. Mining companies in the world’s top supplier of platinum-group metals may take as long as four weeks to ramp up operations fully.

Association of Mineworkers and Construction Union, the largest labor body at platinum mines in the country, said restarting operations was premature as the government lacks the capacity to monitor and enforce stringent health regulations.

The government is also easing some sanitation requirements on imported goods and has also ordered fuel refineries to ramp up output as the economy restarts. Some lockdown restrictions may stay beyond April 30, Dlamini-Zuma said.

— With assistance by Paul Burkhardt

Be the first to comment on this post
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities