The EU, Covid19 and the mining sector

Good morning, veggies and gentlemen, or good evening in date as stem. Rightly noted. My name is not in Sandusky. I am from the European Commission Executive Agency for small and medium-sized Enterprises which implements The Horizon 20/20 program for research and Innovation is so my back's to the organizers for inviting me to to talk to you. And before I I really starts a caveat namely you understand that the situation is evolving very rapidly. So whatever whatever I say right now may no longer be

the fox tomorrow. Okay, I think it is stabilizing a little bit. So let us move on covid-19 and and Mining the immediate impact on mining is is of course the fact that industrial production worldwide is is diminished consumer consumption is down and this the translate immediately into degrees of the prices of raw materials in care copper is that is usually considered to be a a good example of this and you see a copper price on the London Metal Exchange

has gone down. over the past few weeks Although not as as dramatically as soon as may have been the case. But still so is this of course translate into lower revenues for minors and the generally Rome series producers here. You see some clippings about suspending