Chip shortage spreads to mining industry, and prices of control components rise significantly

Vitaly Nesis, CEO of Russia's precious metals mining group, warned that the chip shortage faced by global automakers is about to spread to the natural resources sector, which will undoubtedly add to the woes of an industry already facing inflationary pressures.

According to the Financial Times, Vitaly Nesis pointed out in an interview that the supply chain problems faced by car manufacturers such as Toyota will soon hit mining tool and machinery manufacturers. He said that Toyota is not an isolated case and the chip shortage is very real. He also pointed out his concerns, saying, "This is a major risk."

Vitaly Nesis举例称，控制组件（含加工厂使用的传感器等）市场的价格上涨非常明显，Polymetal必须以“显著溢价”(significant premium)才能争取到货源。

His comments come as the global mining industry grapples with rising costs for raw materials such as diesel and steel, as well as rising wages for its employees. Russian miner Polyus recently said it expects costs to increase in the second half of the year due to "persistent inflationary pressures." And in Vitaly Nesis's view, inflationary pressures won't ease anytime soon.