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Australian miners concerned about Covid-19 spread

18th March 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Australian miners are banding together in response to the Covid-19 outbreak, with a working group meeting on Wednesday.

The Minerals Council of Australia (MCA) noted that the working group, which included senior member company representatives and state associations, met to discuss how the industry could work together to support the communities in which it operated and shared information to keep mine sites safe and producing.

“The minerals industry has a special responsibility to ensure that vulnerable people in remote and regional communities are protected from the spread of Covid-19 as part of its contribution to health and wellbeing,” said MCA CEO Tania Constable.

The challenges outlined by working group members included workforce movement restrictions, pressure on infrastructure such as ports, rail networks and community health facilities and medium-term equipment and consumables supply risks.

“The industry continues to share best practice in relation to protective measures, workforce health and other areas in line with official advice.

“The working group acknowledged the national Cabinet’s exemption of mine sites from its ban on gatherings of more than 100 people and the Prime Minister’s strong statements on panic buying, hoarding and the need for national unity, all of which have an impact on regional communities.

“The industry also notes that the safe movement of people across Australia along with the safety of their families is a high priority for the National Cabinet.”

A number of miners have taken proactive measures to combat the spread of the Covid-19, including cutting back on exploration.

The Office of the Chief Economist on Wednesday noted that the Covid-19 outbreak could result in further falls in commodity prices within China, with potentially significant implications given resources and energy exports accounted for A$103-billion of Australia’s A$153-billion of exports to China in 2018/19.

“While the medium- and longer-term impacts remain unclear, at the time of writing, oil prices had fallen by more than 20% since January 2020. This fall will drive commensurate falls in oil price-linked liquefied natural gas (LNG) contract prices.

“Commodity prices could swing sharply over the first half of 2020, reflecting the impact of the slow return to work in China’s resource-intensive industries and the potential for an offsetting influence from further Chinese stimulatory measures,” the latest Resources and Energy Quarterly read.

“Gold, however, is the notable exception, benefiting from a flight to safety by investors. In addition, the Australian dollar has declined as a result of these commodity price falls, partly cushioning the impact of the outbreak on the Australian economy.”

Globally, some 180 000 people have been affected by Covid-19, with governments across the world implementing a number of measures to contain the spread of the virus, including travel restrictions, border control, and mandatory quarantines for those infected by the virus.

Edited by Creamer Media Reporter

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