The world’s top metal producers are limiting their operations as governments take steps to contain the coronavirus, dimming the supply outlook.
Peru, the world’s second-largest copper miner and third-biggest silver producer, declared a state of emergency for 15 days, closing its borders and ordering a nationwide lockdown to stem the spread of the coronavirus. As a result, Freeport-McMoRan and Newmont are curbing their operations in the country, reports Bloomberg.
The impact of the pandemic goes far beyond Peru. In Canada, Vale SA said it’s putting its Voisey Bay mine under temporary care and maintenance in a move that’s seen trimming the company’s copper output.
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