While Fitch Solutions Macro Research has long held the view that major miners are better positioned to weather unexpected storms, grow further and tackle new challenges, the ratings agency has questioned whether this would be the case with the Covid-19 pandemic – which brings with it operational disruptions and declining metal prices. The findings build on the 2019 financial year already having proven challenging for most miners as profit levels declined, not only owing to share buybacks, impairments and legal charges, but also as metal prices, except for iron-ore and nickel, fared slightly worse than the year before.
