COVID-19 weekly update: Resources & METS sector

Aspermont’s Research and Intelligence Unit brings subscribers the latest weekly resources and METS sector updates in response to COVID-19.

Staff reporter
COVID-19 weekly update: Resources & METS sector

Company news


  • Antofagasta has reported a solid set of financial results for H1/2020, despite COVID-19 and other challenges. Development projects are delayed by around six months due to COVID-19, but this is as expected due to social distancing measures.
  • Hochschild Mining has not reinstated guidance. Despite COVID-19 suspensions in H1/20, cash burn was modest, leaving the balance sheet well positioned with $162M in cash at the end of June.


  • Monadelphous says its second half of the 2019-20 financial year was significantly affected by COVID-19, and while it faces an uncertain economic outlook due to the global pandemic, it ended the year in a healthy position, and began the new year with a solid forward workbook.
  • Mineral Resources has emerged unscathed from the COVID-19 pandemic after what managing director Chris Ellison described as the most extraordinary year in the company's history. The company generated record statutory earnings before interest, tax, depreciation and amortisation of $2.01 billion.
  • MMG reports lower than expected 1H'20 EBITDA of $384m, down 41% y/y. This decline was a result of lower prices and lower volumes due to COVID, community roadblocks in Peru, and conveyor belt maintenance at Las Bambas. 
  • Yancoal's half-yearly earnings have plunged 49% to $481 million because of lower coal prices and the impact of COVID-19 on global coal markets.

Commodities and markets outlook

  • Mid-tier gold producers saw aggregate output fall 13.6% in the June quarter to an average 77,843 ounces, but a massive 94.2% from 1.35Moz in Q1, largely due to temporary restrictions related to the COVID-19 pandemic.

Industry bodies, government departments & regulators

  • Minerals Council South Africa members have contributed towards oxygen and oxygen-related products in the poor Eastern Cape province, as COVID-19 case numbers climb and the country's mining production has fallen 28.2% year-on-year.


A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.


Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.


Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.


Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.


Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.