21-Day National Lockdown to Be Implemented in the Republic of South Africa ("South Africa")
Toronto, March 24, 2020 - Buffalo Coal Corp. ("Buffalo Coal" or "the Company").
Buffalo Coal is a South African based company, with its head office based in Centurion, Gauteng, and its mining operations based in Dundee, KwaZulu Natal.
Further to Buffalo Coal's announcement "Company's position on COVID-19", published on Wednesday, 18 March 2020, the Company hereby informs all stakeholders that South Africa's President, Mr Cyril Ramaphosa, has imposed a national 21-day lockdown ("the National Lockdown"), effective midnight, Thursday 26 March 2020. These measures have been announced to contain the spread of the coronavirus within South Africa.
All non-essential businesses have been ordered to close for the duration of the National Lockdown. Mines have been ordered to limit activities to care and maintenance procedures designed to avoid damage to underground working areas and other infrastructure and facilities required for continuous operations.
In compliance with the directive issued, care and maintenance protocols are being developed and will be fully implemented at the Company's operations in Dundee before midnight on Thursday, March 26th. In addition to the safeguarding and maintenance of the Company's critical infrastructure, these protocols will be designed to ensure continued compliance with all relevant environmental, safety, health and other relevant legislative requirements.
The National Lockdown is expected to have a considerable negative impact on the Company's mining operations. The Company will engage with its financiers, major suppliers and other stakeholders in this regard. The Company will continue to proactively measure and manage any potential impacts of the National Lockdown, together with any possible future extensions thereof. Further updates will be communicated to the Company's various stakeholders as new information becomes available.
About Buffalo Coal
Buffalo Coal is a coal producer in southern Africa. It holds a majority interest in two operating mines through its 100% interest in Buffalo Coal Dundee, a South African company which has a 70% interest in Zinoju. Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa. Buffalo Coal has an experienced coal-focused management team.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ms Emma Oosthuizen
Chief Executive Officer
Email: Emma.Oosthuizen@buffalocoal.co.za
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53737