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.
South Africa’s power problems are beginning to take a huge bite out of the country’s precious metals production and the situation is likely to get worse, according to industry insiders.
This week Cynthia Carroll, the head of Anglo American, warned that platinum production for Angloplats was likely to fall by 150,000 oz this year due to power problems; Lonmin also admitted this week that it had dropped its full-year sales target from 860,000 oz to 775,000 oz…more at platts.com
