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.
MarketWatch reports Mexico has overtaken Peru as the world’s top silver producer as output in the Andean nation has seen a sharp decline during the first six months of 2011. In the January-to-June period, Mexico turned out 1.88 million kilograms (60.4 million ounces), compared to 1.63 million kilograms in Peru, according to government figures.
MarketWatch reports in June, silver production in Mexico totaled 301,637 kilograms, up 4.2% compared to the same month last year. During the same month, Peru’s output of silver was down 22.3% from the year-ago period to 252,331 kilograms.
MINING.com reported last week Ollanta Humala, President of Peru, fulfilled a campaign promise in announcing his government’s intention to hit mining companies with higher royalty taxes and distribute the proceeds to the poor.
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park stay fly
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