Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 15 December
Based on 5,218 responses, 52% of employers expect at least half of their workforces to return to offices within the next six months
Australia’s GDP growth rate is expected to increase from around -2% in 2020 to around 4% by the end of 2021
The rate of unemployment in Australia is expected to have increased to 6.5% by the end of 2021, up from 5.3% the previous year
Around 30% of 45,182 respondents said that the pandemic had “no impact” on hiring in December 2021, up from around 17% in March 2020
Projected covid-19 recovery around the world
- SECTOR IMPACT: MINING -
Latest update: 3 December
PROSPECTING AND EXPLORATION
Continued travel restrictions will hinder explorers in the short-term, whilst investor sentiment will impact capital raising. In the long-term, rising prices and the need to meet rising future demand for battery commodities and critical minerals will support exploration activity.
With commodity prices improving and restrictions easing, capex is on the rise, with developments constrained mainly by the ability to source the required workforce and avoid Covid-19 cases on site. More long-term, an expected recovery in commodity demand and prices will spur an increase in mine development activity to meet future demand requirements.
EXTRACTION AND PROCESSING
In the short-term, miners are more likely to production guidance unless impacts unaffected by Covid-19 have led to reduced output. Looking forward, improvements to emergency response plans and investments in worker health are expected, alongside increased investment in technology and potentially an increase in automation.
Recovery in China and public sector investments have supported rising commodity demand in 2021 for industrial production and infrastructure construction in the short-term. More long-term, as the global economy returns to growth, demand growth for commodities will return to pre-Covid-19 expectations.