Coronavirus does no good for the goldprice

So far, the gold industry has come through the corona crisis well. Some gold and silver companies have had to temporarily close their mines because numerous countries have shutdowns. But in the meantime, most countries are loosening their rules again or have classified mining as essential for the economy and the mines are allowed to open again – of course with larger requirements and partially reduced personnel. But one corporation is particularly hard hit by the corona pandemic.


Mines are closing down

One of the largest gold producers worldwide, AngloGold Ashanti, had to close its Mponeng mine in South Africa shortly after it reopened after the state shutdown. The reason: The Corona virus spread rapidly on the project. The group has tested 651 employees for the virus, and the group has now received 196 positive results. A total of 5,051 workers are permanently employed on the project. According to the company, most infected people show no or only slight symptoms. You have been isolated. However, work on Mponeng, the world’s deepest gold mine, is temporarily suspended.While it is comparatively easy to keep a safe distance between employees on open-cast mines, underground is not that easy. The studs are not designed to keep a safety distance of 1.5 to 2.0 meters. Transport to the workplace is also a problem. In addition: the air is exchanged, but the virus finds a good infrastructure to spread in the confined spaces.