Key to this is the entry of private players to the industry, according to GlobalData, a leading data and analytics company.
In 2021, copper production is expected to bounce back, rising by up to 3.8%, to reach 12.2 Mt, according to GlobalData.
The key contributors to this grow will be Brazil (6.2%), South Africa (4.1%), Australia (3.2%) and India according to GlobalData.
Production from the world’s eight largest gold producers decreased by 6.5% to 25 Moz in 2020 due to several factors.
“Chile’s copper production is estimated to have declined by 0.7% in 2020. While the country’s sector avoided a full-scale lockdown."
Global coal production is expected to grow at a compound annual growth rate (CAGR) of 2.3% between 2021 and 2025 to reach 8.8 bnt in 2025.
Coal production from the top ten mining companies fell from a collective 1,704 Mt in 2019 to 1,633 Mt in 2020, which is a 4.2% decline.