OZ Minerals says it has so far avoided the impact of the COVID-19 pandemic but has loaded up its liquidity. Meanwhile, BHP and its partners have revealed that their huge Antamina copper-zinc mine in the Peruvian Andes has been temporarily closed.
Some rare good news amid all the downgrades and fears about the impact of the China virus crisis - copper and gold miner Oz Minerals says its plans to ramp up copper and gold output at its new Carrapateena mine in South Australia remain on track after production began on schedule in December.
Credit Suisse points out management is confident regarding achieving December quarter production at Carrapateena but the timetable may be at risk, given time-consuming plant completion is still required.
The company has updated on the Brazilian assets. UBS has been waiting for further details on development to refine its assessment. The update indicates that the economics of the Antas mine are worse than previously assessed.