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Be the first with the news that moves the market- Golden Star Resources Ltd (TSX:GSC) announces sweeping controls effective immediately in response to COVID-19
- COVID-19 cases are now reported in all 3 of the countries the company operates in
- No Golden Star employees have been affected as yet
- Crisis management teams to be established
- Golden Star Resources (GSC) is down 6.45 per cent to C$2.83, with a market cap of C$337 million
Golden Star Resources (TSX:GSC) has announced they are enacting a suite of controls to limit the effect of COVID-19 on production.
The controls are designed to protect employees from risk and ensure business continuity in the face of the outbreak.
The three countries the company operates in have all reported cases of the virus, with the United Kingdom, Canada and Ghana all affected.
The company has assured investors that the business has not suffered a material impact on mining operations, logistics, supply chain, sales or its financial position.
Golden Star has committed to two seperate plans, one for the corporate offices in Canada and the UK and the other for the production facilities in Ghana.
The Ghana production plan will involved the monitoring and screening of all individuals who have traveled to countries affected by the outbreak, with health professionals on site to conduct screenings.
The company has fully committed to the restriction of international travel for employees, and those returning to production facilities in Ghana will be quarantined for 14 days.
Site access is also now conditional on employees passing a temperature screening.
Further to this, the establishment of a crisis management team to quarantine an identified coronavirus patient has been established.
This work will be done with private health consultants to protect production sites.
The corporate offices have developed their own management plans on how to deal with the virus.
Virtual office protocols have been implemented, with much corporate work now being conducted as much as possible from home. Employees have been encouraged not to come into work.
This mirrors much of the plans being implemented by businesses all over the world, as companies attempt to mitigate the disruptive effects of the virus.
With public schools in Alberta already shutting up shop indefinitely, it is expected more businesses will be enacting work from home protocols.
Golden Star Resources (GSC) is down 6.45 per cent to C$2.83 as of 10:12am EST.
