Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Europa Metals’ metallurgical test results for the second phase of its Toral project in Spain have been postponed until early April.


The Australian zinc and lead miner recently announced that the delay was due to the shutdown rules imposed by the Spanish government to contain COVID-19. The company said the results included a complete metallurgical report of the project’s second phase located in Castilla y León. Toral, a lead and zinc mine, is wholly owned by Europa.


The findings have enabled the miner to continue some of its low-cost operations at the mine with minimum manpower, as it complies with a government directive for all other employees to work remotely.


The company, which also announced its half-yearly operation results on Monday, joined other miners that have either withdrawn or reduced their earnings and production guidances for 2020 due to the uncertain economic impact of COVID-19. 


Lower mining-related expenses reduced Europa’s net loss for the first half of its fiscal completed on Dec 31, 2019. During this period, the company reported a loss of $1.4mn ($862,741).


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