Coronavirus: United Kingdom, facing worst recession on record, sees GDP drop 20.4% in Q2

The UK has seen its economy, hit by the coronavirus crisis, suffer a "record" contraction of 20.4% in the second quarter, and is officially facing its worst recession on record, agency figures show National Statistics (ONS), published Wednesday 12 August. 
Economists consider that a country enters a technical recession when it accumulates two consecutive quarters of contraction in its economy. According to the ONS, most of the contraction, which began to be felt in March, occurred in April, an entire month of containment and almost total cessation of activity in the country, which saw production collapsed by 20%.

With a very early recovery in construction sites and manufacturing activity, gross domestic product (GDP) rebounded in May by 2.4% (revised figure), followed by an acceleration in June (+8.7 %) thanks in particular to the reopening of all shops. This is the biggest contraction in the UK economy since the ONS began these quarterly statistics in 1955, he said…

Covid-19: mining companies have a month to end the confinement of employees in the DRC

The Congolese government is giving mining companies a month to deconfin their employees while improving their living and working conditions. The challenge will be to avoid increasing the risk of contamination by the coronavirus.

Covid-19: mining companies have a month to end the confinement of employees in the DRC

In the DRC, mining companies have one month to end the confinement of employees at mining sites. This is the announcement made by the Congolese Ministry of Labor in a circular note dated July 13 that the Ecofin agency was able to consult.

According to this document, the deadline runs from July 2 for companies active in the mining province of Lualaba, and from July 06 for those present in Haut-Katanga. It should be noted that some companies have obtained a two-month deadline given their size and the volume of their operations.

During this time, mining companies have an obligation to provide health care for workers and their families, while ensuring decent housing and healthy food for confined workers. They must also respect the texts regulating the working hours of employees and prepare for the return to normalization of activities by establishing on mining sites the precautionary measures imposed by the health authorities to curb the spread of Covid-19.

It should be remembered that the DRC is the world leader in cobalt production and the leading African producer of copper. Companies active in the country include the Swiss giant Glencore, China Molybdenum, Barrick and Ivanhoe Mines.