In our current dynamic economic environment, commodity price assumptions for financial models are critical areas for planning and financial reporting purposes and for the disclosure of forward-looking information. As such, price assessments continue to be an area of significant focus for mining companies as they navigate the path forward into 2021.
Geopolitical trends, in addition to COVID-19, have caused commodity prices to be extremely volatile in 2020. Gold price surged past US$2,000/oz at its peak as investors ran towards a safe haven in a time of uncertainty. Copper price conversely declined to as low as US$2.11/lb. as a result of the economic downturn caused by the pandemic, but it has since recovered to 2019 levels. As the global economic environment remains in flux, companies must stay vigilant in their pricing assessments and transparent in their disclosures.
In our 2020 gold and copper price survey, we analyze industry pricing by looking at responses from leading companies in the Canadian gold and copper industry.
National Deals Mining Leader, Partner, PwC Canada
Tel: +1 416 815 5323