Mining Report Shows Sector Made $230 Billion Profit Last Year

April 6, 2021 11:51:09

Moody’s Investor Service recently released a report which showed that following the 2015–2016 market downturn that led to an adjustment of volatile commodity prices, many mining companies adopted more conservative approaches and shifted their focus onto expanding liquidity, productivity and cost cutting.

The market downturn was a period in which there was a decline in the value of share prices of different companies across the globe. The sell-off occurred between June 2015 and June 2016. It was made up of stock market turbulence in the Chinese market, which led to a 43% decline in the SSE Composite Index in roughly two months, between June and August 2015. In turn, this led to a devaluation of the yuan as more investors sold shares worldwide in a bid to get ahead of the drop in petroleum prices, the declining growth in China’s GDP and the impacts…


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