Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
While the Obama Administration extended its emergency ban on new mining claims around the Grand Canyon only until December 20, 2011, statements made by federal officials at a press conference at Mather Point in the Grand Canyon National Park Monday indicate the ban will probably be permanent.
Although U.S. Secretary of the Interior Ken Salazar repeatedly stressed that mining projects currently in the regulatory pipeline remain alive and viable, fears of possible contamination of the Grand Canyon watershed were repeatedly stressed by federal officials speaking during the news conference.
Image of Secretary of the Interior Ken Salazar at the Statue of Liberty is from Wikipedia.
