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Coronavirus Impact on the Steel Industry

Industry News Reports

Mining News - Screening required for Red Dog workers
Fri, 27 Mar 2020 03:57:00 GMT
Teck Resources Ltd. March 16 said it has initiated measures to slow the spread of COVID-19 that include remote work, travel restrictions and other protocols. These protocols include pre-flight virus screenings for all personnel travelling to its Red Dog zinc mine in Northwestern Alaska. 'Teck is working diligently to closely monitor the recommendations of health officials and update all...

Peruvian Metals Provides Operational Update and Response to the ...
Fri, 27 Mar 2020 00:00:00 GMT
Peruvian Metals Provides Operational Update and Response to the COVID-19 Pandemic - Junior Mining Network

Iron ore supply shock to offset EU demand collapse: analyst
Fri, 27 Mar 2020 00:00:00 GMT
The iron ore sector is about to face a supply shock which should limit its expected second quarter price fall even as steelmaking activity wanes in Europe, analysts at broker Jefferies said Wednesday. Supply disruptions (from COVID-19 production curbs) in India, South Africa and Canada alone will temporarily impact as much as 120 million mt/year of iron ore supply, which equates to 8% of seaborne supply and would be similar in magnitude to the peak of the 2019 supply shock following the

China iron ore futures extend gains on supply deficit fears
Fri, 27 Mar 2020 00:00:00 GMT
Chinese iron ore futures edged higher on Thursday on supply concerns as coronavirus-containment measures across the world intensified, but the uncertain demand outlook for the steelmaking raw material and steel products capped gains. The most-traded May iron ore contract on the Dalian Commodity Exchange ended up 0.7% at 662 yuan ($93.40) a tonne. Supply concerns also supported spot prices. The benchmark 62% iron ore bound for China, the biggest buyer of the raw material and which accounts

State resource sectors respond to coronavirus impact
Fri, 27 Mar 2020 00:00:00 GMT
State resource sectors across Australia have responded to the coronavirus impact on mining, putting contingency plans in place to stabilise the industry amid evolving travel bans in the country.

Aurelia withdraws 2020 guidance over uncertainty
Fri, 27 Mar 2020 00:00:00 GMT
Aurelia Metals has pulled out of its guidance and outlook statements for the 2020 financial year, due to the high level of uncertainty surrounding the impact of the coronavirus.

Mining News - Agnico ramps down Quebec, Nunavut mines
Thu, 26 Mar 2020 12:04:00 GMT
Agnico Eagle Mines Ltd. March 25 reported that it is temporarily shuttering its LaRonde Complex, Goldex and Canadian Malartic gold mines in Quebec, and reducing operations at its Meadowbank and Meliadine mines in Nunavut. This decision follows a March 23 order by the Quebec government for all non-essential businesses in the eastern Canada province to close in response to the COVID-19 outbreak....

Mining News - Red Dog bans mine to NANA region travel
Thu, 26 Mar 2020 11:54:00 GMT
Teck Resource Ltd. March 23 announced temporary ban on travel from the Red Dog Mine to communities in the NANA region of Northwest Alaska where the world-class zinc mine is located. These restrictions on travel come at a time when NANA Corp., as well as other Alaska Native Claims Settlement Act (ANCSA) corporations are looking at ways to prevent COVID-19 from reaching their regions and villages....

Mining News - Donlin Gold drilling continues, for now
Thu, 26 Mar 2020 11:53:00 GMT
Novagold Resources Inc. March 23 said the 2020 drill program at the Donlin Gold project in Southwest Alaska continues at this date, but recognizes that the COVID-19 crisis is fluid and is monitoring the state of Alaska health recommendations and will make the necessary adjustments including pushing back the timeline for the balance of the 22,000 meters of drilling planned for this year. Donlin...

Mining News - Barrick halts unnecessary travel, projects
Thu, 26 Mar 2020 11:53:00 GMT
Barrick Gold Corp. March 20 announced it has stepped up its emergency response plans for dealing with the COVID-19 pandemic at all its sites and offices across the world. The latest round of measures by the global gold mining company includes the suspension of all non-essential business travel and the curtailing of all non-vital projects. Barrick Gold President and CEO Mark Bristow said the...

Mining News - The future of mining in a changing world
Thu, 26 Mar 2020 11:52:00 GMT
In the current environment, it is difficult to avoid discussing the elephant in the room. Essentially, we need to understand how the COVID-19 pandemic will affect mining activities in Alaska in the near and long term. While misinformation and speculation about the disease is rampant, some basic facts seem indisputable the disease is highly contagious, infected people are often asymptomatic,...

Mining News - Canada's territories brace for pandemic
Thu, 26 Mar 2020 11:51:00 GMT
The territories of northern Canada, so far, appear to have escaped the novel coronavirus pandemic that is currently sweeping the globe. This is due, in part, to the remoteness of the region. But it's also likely the result of extraordinary steps some mining companies are taking to keep COVID-19 out of the region. Sabina Gold & Silver Corp., a Canadian junior aggressively seeking gold...

Mining News - Crockett discusses state of Alaska mining
Thu, 26 Mar 2020 11:51:00 GMT
In the midst of the COVID-19 outbreak and following the cancellation of the Alaska Miners Association 2020 Spring Convention in Fairbanks, AMA Executive Director Deantha Crockett takes the time to answer 20 questions on how the pandemic is affecting Alaska's mining sector and the association; Alaska's economy; state and federal mining policy; and due process for the Pebble Mine project....

US Steel Imports Drop in February, Coronavirus Casts a Shadow
Thu, 26 Mar 2020 00:00:00 GMT
The lethal coronavirus outbreak is slowing down recovery of the U.S. steel industry.

Iron ore: how low can the price go
Thu, 26 Mar 2020 00:00:00 GMT
Having demonstrated remarkable resilience for the past two months, the price of iron ore took a big hit this week. Benchmark 62% Fe fines closed at US$80.20/tonne on Monday 23 March, back to the lows seen in early February. Global recession is looming, but prior to this sell-off the iron ore price had barely responded. In contrast, as of Monday, the copper price was down 27% since the start of the year a more typical coronavirus-related price response for industrial metals and minerals.

China iron ore erases 2020 losses on supply concerns, stimulus
Thu, 26 Mar 2020 00:00:00 GMT
Chinese iron ore futures rose more than 5% on Wednesday, the most since July last year, on worries over supply as more countries including top producers of the steelmaking raw material ordered lockdowns to contain the coronavirus pandemic. Hopes for global stimulus and a revival in steel demand also buoyed overall sentiment, with U.S. lawmakers moving closer to passing a $2 trillion aid package and the Group of 20 major economies looking to advance a coordinated response to the pandemic.

Resolutes global production unmoved by coronavirus
Thu, 26 Mar 2020 00:00:00 GMT
Resolute Mining has continued its mining and processing operations at the Syama and Mako gold mines in West Africa without coronavirus impacting production.

Geopacific repatriates staff from Woodlark Island
Thu, 26 Mar 2020 00:00:00 GMT
Geopacific Resources has repatriated all Australian staff from the Woodlark Island gold mine for coronavirus-related health and safety concerns.

Tenaris Postpones Annual General Meeting of Shareholders
Wed, 25 Mar 2020 17:31:00 GMT
LUXEMBOURG , March 25, 2020 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico : TS and MTA Italy: TEN) announced today that, in light of the current uncertainty around the extent and timing of the future spread of COVID-19, the imposition or relaxation of protective measures adopted in response

Uranium and COVID-19: Whos Reacting and How
Wed, 25 Mar 2020 00:00:00 GMT
Uranium and COVID-19: Whos Reacting and How To help investors track the effects of the coronavirus on the sector, INN has compiled a list of responses from...

Number of news reports: 20

Novel coronavirus (2019-nCov) is a strain of virus first identified in the steelmaking city of Wuhan, Hubei Province, China in December 2019. The virus causes fever and coughing that can progress to severe pneumonia and death. Because of rising mortality, its outbreak led to the lock-down of Wuhan in January 2020 including a shut down of the city's public transport; movement restrictions in Beijing and Shanghai; as well as widespread quarantine for international Chinese travellers.