Oil price drop offers little respite to miners as metals slide

摘要

London—The oil price slump of recent weeks will benefit miners by reducing costs, but only partially offset the impact of falling metals prices and sales as coronavirus rattles the global economy, miners and analysts say. For some miners the impact of lower oil and related energy prices will nonetheless be substantial. “For every 10% move in the oil price, we see about a $50-million swing in EBITDA,” diversified global miner Anglo American said. “If the oil price comes down, that is a net positive benefit for our business, all other