Buffalo Coal Fourth Update on the Impact of COVID-19
Toronto, May 5, 2020 - Buffalo Coal Corp. (TSXV: BUF) (JSE: BUC) ("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 previous COVID-19-related announcements, namely: 1) 21-day National Lockdown to be implemented in the Republic of South Africa, 2) Permission granted to recommence mining activities at 30% of operating capacity and 3) National Lockdown to be extended in the Republic of South Africa, the Company hereby informs all stakeholders that, as per the Amended Disaster Regulations announced by the South African Government on April 16, 2020, it has successfully implemented measures allowing it to achieve the utilisation of 50% of its employees at its mining operations as from May 4, 2020.
The safety, health and wellbeing of our employees, their families, contractors and communities in which we operate remains our primary concern. The Company has developed and implemented various risk-based mitigating measures, including:
- Transport arrangements for employees from their homes to place of work;
- Rigorous screening, testing and data collection programmes for all employees and contractors accessing the mining operations;
- Allowing certain employees to work from home; and
- The provision of quarantine facilities for employees who may test positive for COVID-19.
Due to the uncertainty regarding the expected timeline for the lifting of restrictions and impact of any potential COVID-19 infections to any of the Company's employees, the Company has, since the extension of National Lockdown on April 17, 2020, implemented a 'no-work-no-pay' policy ("Policy") for those employees whose services cannot be utilised. Consultations have been initiated with the various trade unions to identify and investigate alternatives to alleviate the financial strain that the implemented Policy will have on affected employees.
The Company will continue to proactively measure and manage potential impacts of the Disaster Management Regulations and amendments thereto on the Company’s operations. 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/55402