J.K. Mining Corporation says impact of COVID-19 has spread across global mining sector


Posted July 22, 2021 by jkminingcorp

LIMA - J.K. Mining Corporation’s Chief Financial Officer said today that the ongoing COVID-19 pandemic and restrictions put in place is taking its toll on the markets.

 
After initially benefiting from uncertainty around the virus, gold peaked at US$1,687 per oz, but has now dropped to US$1,475 per oz.

J.K. Mining Corporation’s Chief Financial Officer, Ms. Adriana Ruiz commented on the COVID-19 outbreak saying “With thousands of confirmed cases around the world, even the most optimistic analysts fear we are heading towards a global recession. Several mining companies have been affected by COVID-19 outbreaks, and global restrictions to encourage social distancing have meant some mining projects have either slowed or shut down completely.”

Restrictions put in place by governments to contain or delay the spread of COVID-19 have placed difficulties on mining companies operating in affected countries. Nonetheless, some mining companies are putting on brave faces. Our first priority remains the safety of our people, whom we have taken a number of measures across the business to protect”, added Adriana Ruiz, Chief Financial Officer of J.K. Mining Corporation.

While the impending economic slowdown will likely result in high gold prices, J.K. Mining Corporation’s analysts see the high levels of risk and the demand for gold investment is considered as a safe haven. The copper price has sunk to US$2.16 per lb and oil is at US$22.60 per barrel.

About Us - J.K. Mining Corporation

J.K. Mining Corporation is a gold and silver exploration, development and production mining company with interests based in Ecuador and Peru. Our vision is to be one of the highest valued and most respected mining companies by leading the industry in performance.

J.K. Mining Corporation’s interest in Ecuador lies in the southern province of Zamora-Chinchipe, near the city of Zamora and lies in a region of ancient volcanism. The area has been known to be rich in gold and silver for centuries and has experienced significant recent growth due to the discovery of a number of recent mineral veins of note. The mining industry in Ecuador is still in its infancy, with large unexplored areas that are potentially rich in gold, silver and copper.

J.K. Mining Corporation’s mining interests in Peru lie in the Cajamarca Region, approximately 45 kilometers to the south west of the city of Jaen and situated in a prolific gold and silver producing region of northern Peru. The project is located within a flexure of a thrust and fold belt of tertiary volcanism that runs the entire length of Peru and contains some of the world’s most prospective gold mines, including Lagunas Norte and Yanacocha, two of the world’s largest gold mines.

Sustainable development is central to J.K. Mining Corporation’s strategy and is integrated into every facet of our operations. We have deployed a practical framework which is developed from a strong set of principles to help us to deliver on this commitment and our practices will continually develop as we seek out ways to improve our performance.

J.K. Mining Corporation has a strong commitment to the protection of the environment and minimizing the environmental impact of our operations. We deliver strong environmental performance based on our adherence to our environmental policy, our standards and our commitment to continually improve our environmental performance.
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Contact Email [email protected]
Issued By Carlos Roberto
Phone +5117057181
Business Address Edificio Anglo Peruano, Avenida Grau Independencia 28, Lima
Country Peru
Categories Energy , Semiconductors , Technology
Tags jk mining corp , jk mining corp copper , jk mining corp gold , jk mining corp lima , jk mining corp peru , jk mining corp precious metals , jk mining corp rare earths , jk mining corp silver
Last Updated July 22, 2021