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Global mining investment to grow 18% in 2021
According to Mining.com, a new study by S & P Global Market Intelligence found that the actual investment spending of more than 400 mining companies it surveyed fell 8% in 2020 compared with the previous year due to the shutdown caused by regional blockade measures, putting unprecedented pressure on the global supply chain.
Global mining investment to grow 18% in 2021
According to Mining.com, a new study by S & P Global Market Intelligence found that the actual investment spending of more than 400 mining companies it surveyed fell 8% in 2020 compared with the previous year due to the shutdown caused by regional blockade measures, putting unprecedented pressure on the global supply chain.
At the beginning of 2020, these mining companies plan to invest $162 billion billion, up 9% from 2019. However, affected by the outbreak, these mining companies cut their investment by 4% to $156 billion, still higher than 2019 levels. As the epidemic worsened, these mining companies had to readjust their plans, investing $149 billion in real terms in 2020, down 8 per cent and 4 per cent, respectively, from pre-and post-epidemic adjusted forecasts in Covid-9. It was also slightly lower than the spending reported by mining companies in 2019.
S & P noted that the global economy is recovering, with GDP growth expected to reach 5.5 percent in 2021. As the world gradually emerges from the epidemic, investment spending will increase significantly.
Investment in these mining companies is expected to reach $176 billion billion in 2021, up 18% from 2020. The estimate of this result is based on the delayed resumption of projects and the general rise in mining activity spurred by rising metal prices.
The leader was prominent during the mining recovery, with Chinese companies investing more than planned for 2020. Chinese companies had originally planned to invest 8% less in 2020 than in 2019, partly because of the lockdown and restrictions imposed at the beginning of the year. However, there were signs of recovery in the middle of the second quarter, and Chinese companies adjusted their investment plans for 2020, up 8% from 2019. And Chinese companies reported a 15% increase in real investment in 2020 compared to 2019.
Prior to the outbreak, precious metals companies planned to reduce investment by 13% in 2020 from the previous year, but reported actual investment was essentially unchanged from 2019, mainly due to a recovery in investment from mining companies in Australia and China. In 2021, precious metals companies will increase by 1/3 from 2019, represented by Newmont (Newmont) and Gold Fields (Gold Fields).
In addition, S & P expects that large mining companies with a market capitalization of more than $50 billion have higher planned and actual investment than other companies. Before the outbreak, large mining companies planned to increase investment by 35% in 2020 on the basis of 2019. But with the outbreak, large mining companies adjusted for an increase of 28%, compared with an actual increase of 22% in 2020.
In 2021, the investment gap between large mining companies and the other three types of companies will further widen, with investment expected to increase by 51% compared to 2019, while the other three types of companies will have similar investment growth, averaging 21%.
(Source: Ministry of Natural Resources)
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