Nickel mine production to contract nearly 20% this year
Research firm Fitch Solutions Country Risk and Industry Research expects nickel mine production to contract by 19.60% this year.
In a report, it states that the mining and metals industry will be deeply impacted by the Covid-19 pandemic this year, as the situation continues to evolve and the virus continues to spread.
This will disrupt mining operations and mineral production growth globally.
The firm believes most mining companies will focus on workforce safety and implement measures such as lowering the frequency of fly-in, fly-out arrangements.
Further to a number of companies completely halting production temporarily, some have announced that they are running at reduced capacities to enhance physical distancing of employees.
“We believe these measures will lead mineral production to either show tepid growth in 2020 or to decline. We note that our forecasts will very likely continue to evolve to the downside as we continue to revise individual countries' data in the coming weeks,” the firm says.
Demand for minerals and metals is also expected to be affected this year, largely offsetting if not overcompensating for the losses in supply, it notes.
Most metal markets are therefore expected to move into surplus this year.
Metal prices are expected to continue to see volatility playing in the downside in the second quarter of this year, as investor sentiment remains weak on the back of the pandemic spreading more widely, it states.
The firm, however, expects to see a recovery in the second half of the year.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
