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.
Australian diversified miner South32 said while it has plenty of regional expertise, the sales process for Botswana’s Khoemacau copper mine was quite competitive.
“It’s a competitive process, a bit rich for our blood to be honest,” CEO Graham Kerr told an earnings call on Thursday.
The miner had picked investment bank RBC Capital to help it put together a bid for Botswana’s Khoemacau copper mine, a source told Reuters in June.
(By Melanie Burton; Editing by Tom Hogue)
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