Silver Seeker Report: This Week in Mining Issue #7 – Another Round of Suspended Mining Operations

The Mexican federal government has mandated that all non-essential businesses, including mining, temporarily suspend operations until April 30 due to the COVID-19 virus. This will impact a number of operations (especially silver), although those with heap leach operations will continue, albeit at lower production rates. This could have material impacts (should the shutdown extend beyond end of April) on those companies without weaker balance sheets. As a result of this, a large number of companies will be coming out with announcements regarding this mandated suspension. Companies not discussed further below but have put out a news release regarding suspensions of mining activities include: Gold Resource Corp (Oaxaca mining unit), Endeavour Silver (all operations), Pan-American Silver (Dolores and La Colorada), Newmont (Penasquito), Torex (ELG complex), Great Panther (Guanajuato mine complex, Topia), First Majestic (La Encantada, Santa Elena, San Dimas), Americas Gold and Silver (Cosala operations), and Excellon (La Platosa).