Mining sector shrugs off coronavirus storm

PwC’s 2020 Mine report paints a picture of a mining sector in relatively rude health, with Covid-19 likely to shave just 6% off earnings in 2020.

This, after a 4% gain in Ebitda (earnings before interest, tax, depreciation and amortisation) in 2019.

Contrast this with the latest Global Trade Update from the United Nations Conference on Trade and Development, which projects a 27% drop in global trade in the second quarter of this year. The automobile and energy sectors have taken the worst drubbing, with second-quarter trade expected to fall by about 40% and 30% respectively.

The overall health of the mining sector has been lifted by gold’s surge, which has helped offset commodity price declines in other sectors.

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