Invest
Why mining might build COVID-19’s metaphorical bridge
Mining could be the “way forward” for Australia post-pandemic, according to KPMG.
Why mining might build COVID-19’s metaphorical bridge
Mining could be the “way forward” for Australia post-pandemic, according to KPMG.
Noting a recent rise in iron ore prices, export earnings forecasts and the sector’s underlying status, Mr Hart said these factors will be “key to the broader ability of the Australian economy and society to successfully cross ‘the bridge’ to the other side of the current COVID challenges”.
According to the global head, miners have been working hard since COVID-19 came onto the radar since 2019 to develop crisis management plans and initial business continuity planning phases.
“Although many commodity prices remain volatile, those of Australia’s major mining exports are robust – that is coupled with a weaker Australian dollar and lower fuel prices,” he explained.
“In addition, we are seeing continued profitability, underpinning about 250,000 jobs directly and many more indirectly, through critical supply.”
He touted that the Australian mining industry is also continuing to provide vital supply lines to critical regional economies, including China, Japan and South Korea.
And while a number of mining commodities are facing different market pressures and price volatility, which led to valuation drops of up to 20 per cent for copper, nickel and aluminium in the March 2020 quarter, “the Australian mining industry is truly a world-class sector”.
“In spite of the COVID-19 challenges, mining remains one of the most resilient and technologically advanced mining industries in the world,” Mr Hart continued.
RELATED ARTICLES
About the author
About the author
Commodity
Gold's remarkable surge in 2025 sets the stage for a volatile 2026
Gold has experienced a stellar year in 2025, achieving over 50 all-time highs and delivering a return exceeding 60%, making it one of the top-performing assets. This impressive performance has been ...Read more
Commodity
Scenic Eclipse launches fifth Antarctica season with new submersible, private jet transfers and helicopter experiences
Scenic Discovery Yachts has commenced its fifth Antarctica season, introducing new ultra-luxury experiences including private jet transfers, advanced helicopter excursions and a new Scenic Neptune ...Read more
Commodity
Is crypto getting the shaft for a big gold re-polish?
While the spotlight shines on trendy cryptocurrencies, investors evidently haven’t lost interest in traditional and tangible commodities like precious metals. Read more
Commodity
Morrison’s gas-led recovery sees manufacturers ‘held to ransom’ by gas cartel
Australia’s manufacturing sector and its workers are being ‘held to ransom’ by the gas cartel, despite the Morrison government promising cheap gas as a key policy in the COVID-19 recovery planRead more
Commodity
‘Investors should take note’: Gas-led recovery to lead to stranded assets
Australia’s gas-led economic recovery could be relying on inaccurate financial assumptions, new research has revealed. Read more
Commodity
Credibility up in flames as government opens 21 new gas and oil exploration sites
Climate groups are saying the Morrison government lacks any credibility when it comes to climate change after it announced 21 new gas and oil exploration areas. Read more
Commodity
Morrison urged to drop gas-led recovery after new global warning
The International Energy Agency has found that countries like Australia need to transition their energy grid within 14 years to reach net zero, defying Prime Minister Scott Morrison’s gas-led economic ...Read more
Commodity
Taxpayers to bear brunt of Morrison’s $2bn pledge to oil refineries
Taxpayers are set to be on the hook for up to $2 billion over the next decade as the government commits to protecting two oil refineries. Read more
