Mining company coronavirus crisis capex reduction 2020

The global mining industry has been impacted by the coronavirus (COVID-19) crisis just as every industry has. There have been supply chain delay interruptions around the world for parts, equipment, and consumables which impact productivity. Access to mining sites have also been an issue, as many countries have engaged in social distancing and quarantine measures. AngloAmerican has announced that they will reduce their capital expenditure by one billion U.S. dollars in 2020.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

Capital expenditure reduction of selected mining companies as a result of coronavirus (COVID-19) impact as of May 2020 (in million U.S. dollars)

Characteristic	Capex reduction in million U.S. dollars
Rio Tinto*	1,500
AngloAmerican	1,000
Freeport-McMoRan	800
Vale	400
Antofagasta**	200
First Quantum	180
South32***	160

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Release date

May 2020

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Region

Worldwide

Survey time period

as of May 2020

Supplementary notes

*Rio Tinto announced that their 2020 capex would be between five and six billion U.S. dollars rather than the previous amount of seven billion U.S. dollars, due to COVID-19 as well as the strength of the U.S. dollar. The figure provided in this statistic is accordingly an average between the two reduced figures provided.
**Capex guidance for 2020. Capex guidance has been reduced to between 1.3 billion U.S. dollars and 1.5 billion dollars, rather than the 1.5 billion dollars announced prior to the crisis.
***Reduced capex over the next 15 months from April 2020. 150 million U.S. dollars of this amount would be sustaining capex and 10 million dollars would be exploration capex.
This statistic was assembled using several editions of the report.

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