Mining companies’ response to coronavirus

Mining companies enduring the first wave of COVID-19 effects on their operating models need to think about responding across five horizons.

Mining companies should consider acting across five stages, leading from the crisis of today to the next normal that will emerge after the battle against coronavirus has been won: Resolve, Resilience, Return, Reimagination, and Reform.

  • Resolve: Address the immediate challenges that COVID-19 presents.
  • Resilience: Address near-term cash management challenges, broader resiliency issues during virus-related shutdowns, and economic knock-on effects.
  • Return: Create a detailed plan to return the business back to scale quickly while the crisis unfolds and knock-on effects become clearer.
  • Reimagination: Reimagine what the “next normal” will look like, its implications, and how the company should reinvent itself.
  • Reform: Be clear about how the regulatory and competitive environment may shift.
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