AngloGold Ashanti limited has undertaken the decision to voluntarily suspend operations at its Cerro Vanguardia mine located in Argentina for some time owing to the detection of some suspected COVID-19 cases amongst the workforce,requiring the need to take urgent steps to contain the spread of the virus.
This is according to a press release by AngloGold Ashanti and announced by the Ghana Stock Exchange.
AngloGold Ashanti limited intimates that the services of local health personnel and labour authorities of Argentina are being engaged. Also, a full sanitisation and disinfection process ofthe site will commence immediately to combat the spread and infection of the coronavirus pandemic.
However, “essential activities will continue for the duration of the voluntary suspension,” AngloGold Ashanti mentioned.
In the press release AngloGold Ashanti Limited further asserted that “operations at Cerro Vanguardia are expected to resume on 20 November 2020, however, movements to and from the site will be restricted to essential personnel only, until 30 November 2020”. This is to ensure that social distancing is practiced and to easily monitor progress of the COVID-19 pandemic as other safety protocols are observed at the Mine.
“The production impact of this precautionary stoppage is estimated to be 8,000oz,” AngloGold Ashanti alerted.
Despite the current situation, “the balance of AngloGold Ashanti’s mines continue to operate as normal, employing a suite of measures to mitigate the risk of the spread of the COVID-19 virus,” as there are fears of a resurgence of the crises, and many countries have re-instituted a lockdown to curb the spread, they remarked in the press release.
“The health and safety of employees and host communities remains a priority,” AngloGold Ashanti pronounced.
As a renowned mining company with a large workforce and clientele base, AngloGold Ashanti Limited is fully supportive of efforts to slow the spread of COVID-19 virus by various policy makers across borders, and is committed to working with and supporting the Argentinian government, particularly in the Santa Cruz province, to combat the virus, by making sure that all safety measures put in place are duly observed and cases detected are reported immediately.
“AngloGold Ashanti is continually monitoring the situation related to the COVID-19 outbreak and remains in close contact with authorities in each country, with our employees and with our key suppliers and other business partners, to help ensure business continuity and mitigate any interruptions that may occur”.
AngloGold Ashanti, further cautioned the general public that the anticipated results, performance or achievements expressed in the communique are unaudited, and may contain certain financial measures that do not conform to Generally Accepted Accounting Principles (GAAP), as such are likely todiffer materially from actual results, performance or achievements.
“The information contained in this announcement has not been reviewed or reported on by AngloGold Ashanti’s external auditor”.
“Ashanti utilises certain ‘Non-GAAP’ performance measures and ratios in managing its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other companies may use”.
