The world’s mining magnates overcome difficulties

Despite the novel coronavirus pneumonia epidemic, mineral company has been able to survive 2020, because of its significant streamlining of business, debt and spending cuts and productivity improvement, according to a new report released by Fitch Solutions.

“We believe that the flexible and excellent financial situation established in the past few years will prevent the mine from going bankrupt,” a company said in a survey

Fitch international expects most metal prices to underperform in 2019 and the global recession will affect real demand. “2019 is a challenge for most mines as industry profit margins are squeezed due to share buybacks, impairment and legal spending, plus a slightly weaker metal price performance than in 2018, with the exception of iron ore and nickel.”

Fitch expects this to intensify in 2020.