Miners Ask Authorities to Let Them Resume ActivitiesBy MBN Staff | Thu, 04/23/2020 - 16:35
The Week in Mining underscores events and trends in the world’s mining industry. Miners in Mexico have asked authorities to allow them to resume activities during the COVID-19 outbreak. The Silver Institute is cautiously optimistic regarding the silver market for the remainder of 2020. Oil’s collapse gave gold a nudge in the commodities market. Rapid, uncostly COVID-19 tests are crucial in the fight against the disease and gold is key in developing them. The bottom of the ocean is the mining industry’s contested next frontier.
The Mexican Mining Chamber (CAMIMEX) asked authorities to allow miners to resume activities in the midst of the COVID-19 outbreak. CAMIMEX noted that activities would take place with less than 50 percent of onfield personnel and following national sanitary provisions and international best practices.
Accessing minerals on the planet’s surface has become increasingly difficult and therefore, companies have shifted focus and dived to the bottom of the ocean. Deep-sea mining is the industry’s next frontier. But moving from submarine exploration to exploitation is a hotly debated topic.
The Silver Institute, a nonprofit international organization of silver industry companies, has published the 2020 edition of its World Silver Survey. The document analyses supply, demand and investment dynamics in the silver market. Its price outlook for the rest of 2020 is positive.
Why is gold holding its ground while oil is on an uncharted journey down the proverbial rabbit hole? The relation between the two commodities is not clear-cut but certain general principles help to understand it.
Antibody testing for COVID-19 will play a crucial role in getting life back to normal conditions. The majority of rapid, cheap tests under development contain gold. To understand how these tests work, the World Gold Council has published an informative animation.