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.
Anglo American unit De Beers Group said on Thursday it was assisting some employees at its Gahcho Kué diamond mine in Canada’s Northwest Territories whose families were residing in the Yellowknife region and were asked to evacuate due to wildfires.
Canadian officials ordered the evacuation of the Northwest Territories’ capital of Yellowknife and several smaller communities on Wednesday as a massive wildfire threatened the town of Hay River overnight.
“The Gahcho Kué team is working with the mine’s Yellowknife resident employees to support those who wish to travel to Yellowknife to assist their families in evacuating the city,” De Beers said.
The mine, however, continues to operate, the world’s biggest diamond miner added.
Canada is enduring its worst wildfire season with more than 1,000 active fires burning across the country, including 230 in the Northwest Territories.
(By Arshreet Singh; Editing by Krishna Chandra Eluri)
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