RwE believes that the global mining industry recovery will continue on track during the next few years, supported by strong project pipelines and a positive outlook for mineral prices.

Many industry analysts predict miners will remain committed to supply and capital restraint, prioritising joint ventures and brownfield investment, and that a strong demand for cobalt, driven by the rapidly growing electric vehicle and battery storage sectors, will prompt significant investment in this nascent mineral sector in the Americas.

Copper will remain at the forefront with firms sprinting towards acquiring additional capacity for the same reason.

Canada’s cobalt sector and Ecuador’s budding mining sector for copper and gold will be investment hot spots, numbers analysts contend. Peru and Chile will continue to attract copper investment, currently accounting for a large percentage of new copper projects for Latin America.

Chile and Canada will stand out as leaders in integrating innovative technology and alternative less polluting energy sources into mining operations in a bid to remain profitable over the long term as the world transitions to a low carbon economy.

Many companies that had spent the earlier part of the year doing deals or resisting unwelcome overtures finished the year looking at overstretched balance sheets, preparing for write-downs and welcoming back potential buyers with open arms.

Disruption and volatility has become the new normal and the pace of change is challenging the industry’s ability to adapt.