Mining sector challenged by rising cost of doing business

THE greatest challenge for the mining sector is the escalating cost of doing business due to the Coronavirus (Covid-19) pandemic, Mineral Resource Authority (MRA) managing director Jerry Garry says.
“Consequently, production of metals shrunk slightly,” he added.
He said, however, the mining sector believed the relaxation of Covid-19 across the globe might improve production output.
“We are looking at slight improvements this year. Travel restrictions had also impacted exploration,” Garry said, adding that it was difficult to predict with the Covid-19 pandemic still a threat.
“People who travelled had to be quarantined and some for over a month.
“We do not expect much change but there could be some slight improvement in mining and exploration.”
He said interest in exploration was still alive with the K92 gold mine committing K50 million to exploration this year.
“But we only hoping that many countries can accept reality that Covid-19 will be around and people should open up business and revert to normal,” Garry said.