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Global copper production is expected to be impacted by the Covid-19 pandemic, with data analytics and consulting company GlobalData now forecasting output growth of just 1.9% to 21-million tonnes for this year. This compares with its previous forecast of 3.4% year-on-year growth in global copper production.
Owing to the uncertain business environment associated with the Covid-19 pandemic, dual-listed Caledonia Mining has deferred its approval of the declaration of the second quarterly dividend for this year. The board will keep this decision under constant review as it monitors prevailing market conditions.
In its force majeure notice to wind independent power producers (IPPs), Eskom has indicated that, should the system operator issue an instruction to a wind farm to reduce energy output during the period of the Covid-19 lockdown, the IPP would be granted an extension equivalent to the period of curtailment. The notice, which was delivered to IPPs on March 31, was issued in response to the 21-day lockdown announced by President Cyril Ramaphosa for the period beginning at midnight on March 26 to midnight on April 16.