Consolidated Tin Mines has placed its Mount Garnet and Surveyor operations in care and maintenance, citing public health concerns surrounding the COVID-19 pandemic.
The company said all employees other than those required during the care and maintenance period had been advised they would be stood down without pay as at the close of business on Tuesday.
“CSD is in the process of developing and implementing a plan to ensure the health of the company’s employees and normal operations will resume,” managing director Ralph De Lacey said.
“The timeline to the finalisation of this plan is unknown as Australian Commonwealth and State Government guidelines are changing constantly.”
Limited restart, reduced workforce
Mr De Lacey said Consolidated Tin expected that it would limit any restart to its Dry River South mine, with the Mount Garnet processing plant operating on a campaign processing schedule.
“As such, CSD is likely to require a reduced workforce,” he said.
“The company is closely monitoring how matters will develop and will update shareholders as soon as possible regarding the expected recommencement date.”
It comes just days after Consolidated Tin Mines announced it would not be proceeding with a proposed $53 million acquisition of Auctus-owned operations in the Chillagoe region, west of Cairns.
A company presentation last month indicated Consolidated Tin was processing ore from the Mount Garnet underground mine and Dry River South underground (part of its Surveyor project) at a combined rate of about 500,000 tonnes a year.
The operation produces zinc, copper and lead concentrates, with gold-silver credits.
The processing plant and Surveyor and Mount Garnet projects were formerly assets of failed miner Kagara.