Ivanhoe Mines Ltd. - Chairman, Robert Friedland
Chairman, Robert Friedland
Source: Forbes
Market Herald logo


Be the first with the news that moves the market
  • Ivanhoe Mines (TSX:IVN) has said that it will unleash “extraordinary measures” to mitigate the impact of COVID-19
  • A response team, led by Dr Nicolette Du Plessis, will help the company to implement new policies and offer specialist guidance
  • Intensive care units, including ventilators, will be installed at some sites, as well as quarantine facilities
  • A number of early-stage treatments have also been sourced
  • Ivanhoe Minerals (IVN) is currently up 2.15 per cent to C$2.38 per share, with a market cap of $2.86 billion

Ivanhoe Mines (TSX:IVN) has said that it will unleash “extraordinary measures” to mitigate the impact of COVID-19.

The company’s operations in South Africa and the Democratic Republic of Congo have been hit by sweeping government-imposed travel restrictions and emergency protocols.

In response, and despite no employees contracting the virus, Ivanhoe has set about assembling an all-star COVID-19 response team to be led by Dr Nicolette Du Plessis. Du Plessis is a specialist in Paediatric Infectious Diseases and a Professor at the University of Pretoria.

She is currently president of the Southern African Society of Paediatric Infectious Diseases and president-elect of the Federation of Infectious Diseases Societies of Southern Africa.

The rest of the team will include specialist doctors, paramedics and nurses, as well as counsel from several external, world-leading epidemiologists.

Perhaps the team’s most significant measure is the installation of ten intensive care units at the Kamoa-Kakula Project. Each unit will be equipped with a ventilator, with 20 additional high-care units available to treat potential patients. A quarantine facility will also be built with a capacity for 60 people.

Kamoa-Kakula’s existing on-site medical team has also been furnished with critical medical supplies, including surgical gloves and N95 face masks.

A “very substantial number” of virus test kits have also been procured, with help from Ivanhoe’s largest shareholder, CITIC Metal.

Co-Chair of Ivanhoe, Robert Friedland, stated the company’s aim is to keep its operations running safely.

“The nature of our mine development projects is such that certain work cannot be done remotely, so our focus is on reducing the risk of the virus spreading to our projects.

“Operational continuity is critical for jobs, the communities around our operations, and the local economies,” he said.

It was also noted that Ivanhoe’s Platreef and Kipushi sites have been placed on temporary suspension. The projects are currently operating with a significantly reduced workforce, responsible only for care and maintenance.

Ivanhoe Mines (IVN) is currently up 2.15 per cent to C$2.38 per share at 11:10am EST.

More From The Market Herald
Filo Mining

" Filo Mining increases financing to $130M

Filo Mining (TSX:FIL) has increased its non-brokered private placement to raise gross proceeds of $130 million, due to strong demand.

" AJN Resources to acquire interest in a highly prospective Eastern DRC lithium permit

AJN Resources (CSE:AJN) will acquire up to a 70 per cent interest in a highly prospective lithium exploration permit.

" Ready to drill, Mantaro completes pad construction at Santas Gloria

Mantaro Precious Metals (TSXV:MNTR) completed drill pad construction at the Santas Gloria Project, ahead of its maiden drill program.

" Canadian diamond miner to raise $800K for discovery follow up

VR Resources, a Canadian diamond miner, seeks to raise up to $800,000 through a non-brokered private placement.