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.
Institutional investors are no doubt recoiling on news that one of their very own – the $20 billion Texas University Endowment Fund – has taken a $1 billion position in dumb ol’ gold bars, stored on their behalf in New York vaults, collecting dust but earning no interest and paying no dividend.
