• Advertise
  • Contact Us
  • Supplier Directory
  • SCB YouTube
  • About Us
  • Login
  • Subscribe
  • Logout
  • My Profile
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Parcel & Express
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Robotics
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Customer Relationship Management
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • Green Energy
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • Sourcing/Procurement/SRM
    • SC Security & Risk Mgmt
    • Supply Chains in Crisis
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Management & Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Warehouse Automation
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • THINK TANK
  • WEBINARS
    • On-Demand Webinars
    • Upcoming Webinars
    • Webinar Library
  • PODCASTS
  • WHITEPAPERS
  • VIDEOS
Home » Air Cargo » The Global Airline Shutdown Has a Surprise Victim: Gold Miners

The Global Airline Shutdown Has a Surprise Victim: Gold Miners

Miners
Source: Bloomberg
April 21, 2020
Bloomberg

The collapse in commercial air travel amid global coronavirus restrictions has an unexpected casualty — gold miners looking to transport their metal to refineries.

Producers typically rely on regular airline services to ferry mined metal — called dore — from remote operations to the specialist plants that separate out the precious metals and craft them into bars or coins.

That’s becoming more difficult with a large swathe of global aircraft grounded, including about two-thirds of the passenger jet fleet, according to Cirium, an airline industry data provider.

“Where we’ve had to be doing more work is getting dore — the metal — to market,” said Tom Palmer, chief executive officer of Newmont Mining Corp., the world’s biggest gold producer. “Typically dore travels on commercial airliners, so it’s been about finding alternative paths to get that dore to refineries around the world.”

Newmont is competing to secure slots for its shipments on the small number of remaining commercial flights, Palmer said last week. “The other work is around identifying how we can charter aircraft — how we work with some other companies to team up and share a charter load.”

A shutdown of the airline industry has made transporting gold in all forms more difficult, the World Gold Council’s chief market strategist John Reade said last month. Difficulties in moving metal between trading hubs, and linking those markets with vaults and refineries has impacted prices, widening the spread between New York futures and London spot prices.

Greenwood Village, Colorado-based Newmont, which produces more than 6 million ounces of gold a year, has also contended with disruptions at refineries, including closures earlier this month in Switzerland. It has an agreement with Australia’s Perth Mint to potentially accept mined metal from operations the facility doesn’t typically service, including the Merian asset in Suriname, about 10,000 miles (16,000 kilometers) away, according to Palmer.

“We now have an avenue, if we need to use it, for our dore from Peru, or Suriname, or Ghana, to go to the Perth Mint to be processed, rather than the U.S. or Europe,” he said. “You have got to get your thinking caps on.”

The company has shuttered some operations in Canada, Argentina, Mexico and Peru as a result of coronavirus curbs, and has been coordinating with suppliers including Caterpillar Inc. and explosives maker Orica Ltd. to minimize supply chain delays, Palmer said.

    RELATED CONTENT

    RELATED VIDEOS

    Air Cargo Logistics Global Logistics Transportation & Distribution Supply Chain Planning & Optimization Global Supply Chain Management Global Trade & Economics Supply Chain Security & Risk Mgmt
    KEYWORDS Air Cargo Canada Coronavirus Europe Global Trade & Economics Latin America Middle East/Africa North America SC Planning & Optimization SC Security & Risk Mgmt
    • Related Articles

      U.S. Shale Has a Panama Canal Problem That Has No Easy Fix

      Europe Has A Lot to Lose in U.S.-China Trade War

      Can the U.S. End China’s Control of the Global Supply Chain?

    • Related Directories

      ProcureAbility

      GLS US

    Bloomberg

    Firms Race to Fix Widespread Cyber Flaw Before Hackers Break In

    More from this author

    Subscribe to our Daily Newsletter!

    Timely, incisive articles delivered directly to your inbox.

    Featured Product

    Popular Stories

    • A cartoon illustration of a man sitting at a desk in front of a laptop, surrounded by five faceless humanoid robots

      The Productivity Story Everyone is Missing

      Technology
    • Planet earth from space showing realistic earth surface and world map as in outer space point of view

      Beyond Traditional Trade Agreements: A Proposal for Creating ‘Rules of Resilience’

      Global Supply Chain Management
    • A red and black container ship in open ocean

      Hormuz Attacks Against Commercial Shipping Reach Record Highs

      Global Gateways
    • An overhead view of a collection of multicolored lithium-ion batteries

      Building a Resilient U.S. Battery Supply Chain

      Green Energy
    • A blue container ship stacked with multi-colored containers sinking into an ocean of red tape that reads "tariffs"

      From Russian Oil to U.S. Supply Chains: The Hidden Risk of Secondary Tariffs

      Regulation & Compliance

    Digital Edition

    Scb q3 26 cover

    100 Great Supply Chain Partners 2026: The Secret to Supply Chain Success

    VIEW THE LATEST ISSUE

    Case Studies

    • Recycled Tagging Fasteners: Small Changes Make a Big Impact

    • A GRAPHIC SHOWING MULTIPLE FORMS OF SHIPPING, WITH A HUMAN STANDING AT THE CENTER, TOUCHING A SYMBOLIC MAP OF THE WORLD

      Enhancing High-Value Electronics Shipment Security with Tive's Real-Time Tracking

    • A GRAPHIC OF INTERLACING HONEYCOMBED ELEMENTS REPRESENTING GLOBAL BUSINESS TRANSACTIONS

      Moving Robots Site-to-Site

    • JLL Finds Perfect Warehouse Location, Leading to $15M Grant for Startup

    • Robots Speed Fulfillment to Help Apparel Company Scale for Growth

    Visit Our Sponsors

    4flow Amazon Freight Anaplan
    Arkieva AutoStore Blue Yonder
    Canadian National Railway Company Carton Cloud CoEnterprise
    Dassault Descartes Dexory
    Duravant E2Open EPG
    General Logistics Systems GEP Hy-Tek
    iGPS Knapp Korber
    Lyngsoe Odyssey Logistics OMP
    PeakAI Procurability Quinyx
    SAP Sikick Staples
    S&P Global Mobility Systech TADA
    Tive TransImpact US Bank
    Werner WSI
    • More From SCB
      • Featured Content
      • Video Library
      • Think Tank Blog
      • SupplyChainBrain Podcast
      • Whitepapers
      • On-Demand Webinars
      • Upcoming Webinars
    • Digital Offerings
      • Digital Issue
      • Subscribe
      • Manage Email Preferences
      • Newsletters
    • Resources
      • Events Calendar
      • 2026 Event Coverage
      • SCB's Great Supply Chain Partners
      • Supplier Directory
      • Case Study Showcase
      • Supply Chain Innovation Awards
      • 100 Great Partners Form
    • SCB Corporate
      • Advertise on SCB.COM
      • About Us
      • Privacy Policy
      • Contact Us
      • Data Sharing Opt-Out

    All content copyright ©2026 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

    Design, CMS, Hosting & Web Development :: ePublishing