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Be the first with the news that moves the market- OceanaGold Corporation (TSX:OGC) is continuing to operate the Haile Gold Mine, despite a new state-mandated shutdown
- The Government of South Carolina announced last night that all non-essential services will need to close for a two-week period in an effort to slow the spread of COVID-19 through the region
- Confirmed cases of novel coronavirus in South Carolina exceeded 1,000 earlier this week
- In a corporate update released last week, OceanaGold suggested that interruptions to its operations at Haile could cause its 2020 guidance to be withdrawn
- OceanaGold Corporation (OGC) is up 1.48 per cent, with shares trading at C$1.37 and a market cap of $846.4 million
OceanaGold Corporation (TSX:OGC) is continuing to operate the Haile Gold Mine, despite a new state-mandated shutdown.
Last night, the Government of South Carolina announced that all non-essential services will need to close for a two-week period. The state government hopes that this will stem the spread of COVID-19 throughout the region.
Governor Henry McMaster brought in the new measures after the state’s number of confirmed novel coronavirus cases jumped past 1,000 on Tuesday.
However, OceanaGold was quick to point out that the current ban does not apply to mining activities. Therefore, operations at the Haile Mine remain unaffected.
Michael Holmes, Acting President and CEO of OceanaGold, assured the public that the company is taking sensible measures during the crisis.
“We will continue monitoring the health and safety situation across the business and will move swiftly to continue protecting the health and wellbeing of our workers.
“We remain engaged with public health authorities in all jurisdictions,” he said.
Last week, New Zealand’s coronavirus shutdown did not deem OceanaGold’s operations as essential. As a result, the company was forced to suspend some operations at the Waihi Gold mine.
Despite these operational interruptions, OceanaGold chose to maintain its current 2020 guidance. This was due to production at Haile, as well as at The Macraes Mine, remaining largely unaffected thus far.
However, in the company’s release at the time, OceanaGold suggested that interruptions to its operations at Haile could cause guidance to be withdrawn.
OceanaGold Corporation (OGC) is up 1.48 per cent, with shares trading for C$1.37 at 9:51am EST.
