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Mining industry showing recovery from Covid-19 crisis: PwC report

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Mining industry showing recovery from Covid-19 crisis: PwC report

Mining is one of the few industries that emerged from the worst of COVID-19 pandemic economic crisis in excellent financial and operational shape, PwC India said in a report. Stating that 2020 was a banner year for the mining sector, the audit firm said that the decisions made today about workplace policies, including the role of digitisation and automation, will shape the future of mining for years to come.

“The price recovery in the second half of the financial year provided a tailwind to the industry to improve on performance and financial parameters. Mining companies in India continued to be resilient and perform their operations, also lending a hand to government efforts in addressing the health pandemic in their regions of operations. The industry needs to invest for the future by exploring and leveraging operational technology initiatives, enhancing productivity and efficiency, and engaging with stakeholders for shared prosperity,” PwC India mining and metals leader Yogesh Daruka said.

Mining companies with higher environmental, social and governance (ESG) ratings outperformed the broader market during the peak of the COVID-19 crisis, delivering 34 per cent average total shareholder return over the past three years – ten percentage points higher than the general market index, PwC India said. The figures are from PwC’s 18th annual review of the top 40 mining companies – Mine 2021 -which examines the global trends in the mining industry, the audit firm said in a statement. The demand for the minerals that go into clean energy technologies is expected to increase six-folds in the next 20 years, the audit firm said.

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A robust financial outlook provides a unique opportunity to these companies to rethink their existing purpose and strategy, reimagine the future and set out a bold ambition as they reconfigure their business models for long-term sustainable value, Sambitosh Mohapatra, leader – ESG, energy utilities and resources, PwC India, said.

News Source : Construction World

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The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra

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The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra

Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.

With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.

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