20th Mar 2020 17:45
(Alliance News) - Antofagasta PLC on Friday said it has cut around 1,400 employees at its Los Pelambres Expansion project for 15 days as the Chilean miner bids to slow the spread of Covid-19.
The reduction in workforce, which will cut about 1,400 of the 1,900 employees working on the construction of the asset, will be "reviewed periodically". A delay of the completion of the project is expected, Antofagasta said, though the full impact of the delay is yet to be estimated.
The Los Pelambres copper mine is located in Chile.
"At the operations the workforce will be reduced by approximately 30% with critical employees remaining at work to ensure production continues unaffected. The reduction in people will allow greater social distancing at the operations' accommodation, catering, transport and other facilities," Antofagasta said.
Chief Executive Ivan Arriagada added: "Although we have had no cases of Covid-19 at our operations, the health and safety of everyone who works at our operations remains of paramount importance. We have therefore taken these actions to reduce the risk of infection by reducing the number of people on site."
Shares in the company closed 1.0% lower at 653.40 pence each in London on Friday.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Antofagasta