Highlights from Miner’s Day 2020 Digital ConferenceBy Alejandro Ehrenberg | Thu, 07/16/2020 - 16:00
The Week in Mining brings highlights from the video conference held to celebrate Miner’s Day 2020. Top players in Mexico’s industry gathered to discuss the main trends shaping Mexico´s mining industry, from the ever-changing strategies of organized crime and USMCA’s impact on the industry, to the social license to operate and labor relations in the COVID-19 era. Additionally, gold, silver and copper are trading at high levels on the back of Chinese imports and fears of COVID-19 are surging in the US.
Miner’s Day Celebration
Minister of Economy Graciela Márquez said USMCA opens doors for mining. “USMCA’s enforcement opens new perspectives for the Mexican economy and for mining, a strategic sector in the economic recovery process,” she noted.
The new normal brings new challenges in terms of security as organized crime, just like industrial activities, adapts to a new environment.
The transition to a low-carbon economy is mining-intensive. Paradigms must change to take full advantage of the opportunity and reinforce mining’s commitment with the environment.
Local health authorities discussed the strategies implemented by mining companies to support local communities in the fight against the pandemic.
Collaboration is essential for both companies and communities to take advantage of mining projects’ success. Trust-based relationships are crucial for successful operations.
Mining is fundamental for growth. To reap Mexico’s full mining potential, companies must combine economic benefits with social development. Top mining executives share their vision for the industry.
Union leaders and labor authorities discussed the challenges for mining workers in Mexico amid the pandemic and USMCA. A new unionism for the mining sector is needed.
Silver is hovering just above the key US$19/oz level. Among the trends affecting silver price are the US dollar mixed against a broad basket of currencies and gold trading near the psychologically important US$1,800/oz level, reported FX Empire.
Gold futures headed lower on Thursday as commodity investors assessed the landscape for the global economy and markets, said Market Watch. “Bullion has been held around US$1,800/oz as rising cases of COVID-19 in many American states undermine economic recovery,” the online news outlet noted.
Copper price is nearing a two-year high. “Copper futures remained within shouting distance of the US$3 per pound level on Tuesday on the back of a surge in Chinese imports of the metal and worries about supply from South America,” reported Mining.com.