Fortuna Silver Mining Inc - President and CEO, Jorge A. Ganoza
President and CEO, Jorge A. Ganoza
Source: Satori Traders
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  • Fortuna Silver Mines (TSX:FVI) has announced six of its employees have tested positive for novel coronavirus in Peru 
  • The company has continued operations at the Caylloma Mine, albeit with a vastly reduced workforce, at just 40 per cent of its original size 
  • The company is continuing to test its employees and is handling positive cases in coordination with the health authorities 
  • Fortuna has instigated a series of social distancing regulations to stop coronavirus spreading throughout its workforce 
  • Fortuna Silver Mine Inc (FVI) is up 0.26 per cent and is trading at C$3.82 per share, with a market cap of $612 million 

Fortuna Silver (TSX:FVI) has announced that six of its employees have tested positive for COVID-19 in Peru, but operations continue with reduced staff.

On Sunday, March 15 the Government of Peru introduced a series of measures to contain the rapid spread of COVID-19, including the declaration of a fifteen-day period of mandatory social distancing which has since been extended to May 10, 2020.

That has meant the Caylloma Mine has been operational, but at a reduced capacity and with a limited number of personnel on site.

Fortuna have followed many other miners and resources companies in introducing social distancing protocols at the mine site and in the surrounding area. 

The town of Caylloma is 15 kilometres from the mine site, and Fortuna has established medical protocols to safeguard not just it’s employees, but also the inhabitants of the town.

Medical screenings are being performed on all incoming personnel to the mine site and any staff before they travel back home. Furthermore, the company is conducting health checks and serological testing at the mine site and in the town.

Fortuna has suspended all non-essential work on the site. Currently, just 40 per cent of the workforce is presenting at the site for core activities.

Use of PPE is now standard and travel to and from the mine is being conducted in disinfected vehicles at 50 per cent occupancy to meet social distancing requirements.

In line with other mines around the world, shift times are now being staggered to minimise employee contact. Canteens and other common camp spaces are reducing capacity or enforcing take away meals to encourage social distancing in off duty staff.

The company has conducted routine and random coronavirus testing of employees, including employees that are asymptomatic.

Fortuna Silver Mine Inc (FVI) is up 0.26 per cent and is trading for C$3.82 per share at 1:25pm EDT. 

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