The mandatory suspension of Mexico’s mines in April and May is evident in Endeavour Silver’s second-quarter production results, with the Toronto- and New York-listed miner on Thursday reporting a 42% decrease in silver-equivalent production.
The company produced 1.06-million silver-equivalent ounces in the March 2020 quarter, comprising 596 545 oz of silver and 5 817 oz of gold.
The Guanacevi, Bolanitos and El Compas mines were suspended on April 1, to halt the spread of Covid-19. In late May, mining was deemed to be essential activity by the Mexican authorities, which allowed mining operations to start up with health protocols in place.
“I am pleased to report that notwithstanding the challenges of the Covid-19 pandemic, Endeavour personnel were pro-active in minimising its impact on our mining operations in Mexico. We implemented our coronavirus prevention and response plan in mid-March and it has been very effective,” said CEO Bradford Cooke.
During the mine suspension period, the company sent its employees home on full salary while keeping essential personnel working at each mine site to maintain safety, security and equipment.
“After the mines restarted, we were able to outperform our adjusted mine plans in June. We will now look for opportunities to enhance our production in the second half to partly make up for lost ground in the first half,” said Cooke.
The company would update shareholders on its second half and full-year production and cost guidance when it reports its financial results on August 6.