Advisory firm PricewaterhouseCoopers (PwC) have urged miners to adopt strategies to mitigate against further economic and social risks post the Covid-19 crisis.
PwC’s forecast for 2020 suggests the global top 40 miners would take a modest hit to earnings before interest, taxes, depreciation, amortisation and impairment of about 6%, following a strong financial performance in 2019, which saw revenue increase by 4% to $692-billion and market capitalisation increasing by 19% to $898-billion.
“In some respects, the mining sector is well-situated in the wake of Covid-19. Mining companies have strong finances and are mostly still operational, albeit with some level of increased precautionary and preventive control,” said PwC global leader for mining and metals, Jock O’Callaghan.