A survey by global law firm White & Case of senior mining and metals decision makers has revealed that the fear of a global recession was the top concern in the post Covid-19 economy.
The survey, which included responses from a record 67 senior decision makers, also saw 39% of respondents citing global market weakness as the largest threat to the industry, in stark contrast to the sentiment echoed in January, where trade tensions were deemed the biggest risk.
“After an encouraging start to the year, the global economy has been struck by the unprecedented force of the coronavirus pandemic. Given most mineral commodities’ dependence on global growth, combined with mine-level shutdowns and the sector’s reliance on functioning global supply chains to bring products to market, much of the mining and metals space was hard hit early on,” the report stated.