Skillings Mining Review November 2020: November 2020 brought both financial strain and technological milestones across the global mining sector. In the Americas, U.S. Steel reported a $589 million loss, underscoring the harsh economic toll of the pandemic on steelmakers. Meanwhile, a copper rally raised prospects for restarting Mount Polley in British Columbia, and Minnesota stakeholders weighed the implications of a major steel megadeal for the state’s economy. At the same time, a U.S. bank’s funding of TechMet reflected the rising strategic weight of critical minerals.
The month also highlighted the ongoing tension between productivity and worker safety. BHP faced criticism over international safety standards, while researchers developed new materials such as magnetic “fool’s gold” with potential industrial applications. Companies also accelerated adoption of fatigue-monitoring and forecasting solutions as Covid-19 stretched workforce resilience.
On the equipment and technology front, momentum was unmistakable. ABB partnered with the University of Western Australia to accelerate digital mine innovation, while Epiroc successfully tested battery-electric vehicles in winter conditions. Blockchain entered the mainstream as BHP completed its first iron ore trade with China Baowu, signaling the digitization of commodity flows. From wireless connectivity to 5G-enabled dump truck trials in Russia, miners explored technologies that promise safer, leaner, and more resilient operations.
Globally, labor and policy issues shaped the headlines. 350 workers were retrenched in Alabama, while Pol and committed to phasing out coal by 2049. In the UK, the government scrapped plans for a new coal mine, aligning with Europe’s broader decarbonization trajectory. Meanwhile, Equatorial Guinea and Russia launched a geological mapping initiative, underscoring how emerging partnerships are redrawing mining’s geopolitical map.
Despite uncertainty, steel remained a throughline. September’s crude steel production figures and the announcement of the 11th Steelie Award winners reinforced the sector’s central role in global recovery. Iron ore futures in Dalian notched a sixth consecutive monthly gain, reflecting strong Chinese steel demand.
Taken together, the November 2020 issue captures an industry at a crossroads: wrestling with financial losses and labor disputes, while simultaneously embracing digitalization, sustainability, and a more interconnected future.
