The Galaxy Resources Limited (ASX: GXY) share price and the Orocobre Limited (ASX: ORE) share price have both come under pressure on Monday.
In afternoon trade the two lithium miners are down 13% to 77.7 cents and 7.5% to $2.00, respectively.
This follows the release of announcements out of each company this morning in relation to coronavirus disruption.
What did Galaxy announce?
Galaxy released an update to the market in relation to its Sal de Vida operation in Argentina.
According to the release, the Government of Argentina has issued a nationwide lockdown to contain the spread of COVID-19. Mandatory quarantine restrictions have been imposed through to March 31 2020.
As a result, the majority of the Sal de Vida project workforce is demobilising from site with only a skeleton crew to remain for essential services.
While these restrictions will slow down onsite activities, offsite engineering design work will continue unaffected.
Galaxy's key Mt Cattlin spodumene operation in Western Australia continues to operate as normal for the time being.
What did Orocobre announce?
Orocobre has also been impacted by the Argentinian government's lockdown.
According to the release, its Olaroz Lithium Facility has moved its operations to just care and maintenance.
Though, management advised that plans are being developed to ensure that when quarantine restrictions are lifted production will recommence within a week.
In addition to this, Orocobre has suspended all development operations related to the Stage 2 Expansion.
Positively, Olaroz currently holds sufficient stock to meet customer orders until the end of April. The company also has a strong financial position, with approximately US$164 million (A$283 million) of cash available for corporate purposes.
Elsewhere in the industry, the Pilbara Minerals Ltd (ASX: PLS) share price is down 11% this afternoon on the back of no news.
