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.
Reuters reports Sudan said on Sunday it expects its mining industry to produce around 7 tonnes of gold in 2011 and it plans to launch a gold refinery next year to improve the quality of its much extensive larger small-entrepreneur output.
Sudan is trying to boost output of gold and other minerals to compensate for the loss of much of its oil production of 500,000 barrels a day when South Sudan became independent in July.
