Copper prices have rallied in recent months, suggesting that the mining cycle is starting to turn higher once more, but there are still significant headwinds to the recovery from the coronavirus and other factors.
Political tensions have been heightened by an aggressive US President, threatening to push the world back into a period of reduced trade growth and deglobalisation. China is now increasingly being viewed with suspicion, as President Xi becomes more autocratic and pursues a hard line on a variety of issues of international interest.
In this new White Paper, Macroeconomic drivers of mining employment (Copper) , I look at what this complicated economic and political picture means for the mining sector and mining employment and what has driven it in the past twenty years.
I look ahead to see how sustainable this trend is. Finally, I identify leading indicators to tell us how demand is holding up, where we are in the commodities cycle and where we are likely to go in a post-coronavirus world.
I find positivity for future employment trends in mining in the fact that copper prices have bounced back from their lows in recent months. This suggests that a new phase of economic recovery is starting to take hold, ushering in a new expansion phase for the global mining sector.
Please get in touch to let me know what you think.
Dan Smith, Director – Special Projects
Image (c) Shutterstock | SimoneN