H1 2020 operational highlights
No lost time injuries ('LTIs') at either operation
Production and sales volumes unaffected by COVID-19 pandemic
Kounrad copper production, 6,607 tonnes
Sasa zinc in concentrate production, 12,203 tonnes
Sasa lead in concentrate production, 15,140 tonnes
Group cash and debt position
Cash in the bank on
Gross debt (inclusive of overdraft) on
H1 2020 Traxys corporate debt facility repayments of
'H1 2020 has brought its challenges, as COVID-19 related concerns and restrictions in
'However, as we enter Q3 2020, COVID-19 cases are rising in the local town close to the Kounrad operation and, despite our stringent on-site actions and health measures, some of our employees have recently been diagnosed with the virus. It is our duty to do our utmost to prevent the spread of this virus on our site and, to that end, we have taken the post-period end decision to temporarily reduce to a minimum the number of employees at Kounrad to further increase social distancing measures. Due to the relatively open nature of the operations, we are confident that such measures will be effective and, with our reduced staffing, we will be able to broadly maintain production for the near term.
'Our top priority is always the welfare of our employees and contractors.'
COVID-19 update
During H1 2020, both the Kounrad facility in
CAML COVID-19 related actions
The Company has put in place many measures during H1 2020 to try to ensure the safety of its employees and contractors on both sites, including: Establishing a COVID-19 'Crisis Committee', involving regular calls between
Staff at both operations and in the
A cessation of all but essential international travel
A cessation of all but necessary visitors to site (subject to authorisation from General Directors)
Identification and close monitoring of team members most vulnerable to COVID-19 with most now removed from the workplace
The distribution of COVID-19 related PPE to employees and contractors
Undertaking a detailed review of all activities at both sites to ensure that social distancing is at the heart of operations during the pandemic
Changes made to canteen and transport arrangements at both operations to increase social distancing
Relevant government guidance reinforced, and increased hygiene measures implemented on both sites
Employees instructed to stay at home if they suffer from any potential COVID-19 symptoms
Temperature testing on entry to transport buses and at the mine gate
Along with many other countries, the governments of
Kounrad and Sasa
To date, 27 Kounrad employees have tested positive for COVID-19. Post the period end, the Company has temporarily reduced the total number of employees by 40% in order to further increase social distancing with a view to ensuring the virus does not spread on the Kounrad site. During this period, CAML currently expects to broadly maintain production, safely, albeit with minimal maintenance. The situation will be under constant review and updates provided as and when appropriate.
No CAML employees at Sasa have tested positive for COVID-19 and there are no reported cases in the town closest to the mine, Makedonska Kamenica.
Contact:
Tel: +44 (0) 20 7898 9001
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