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.
According to a recent mining industry report by Metals Economics Group (MEG), Latin American gold production should increase more than 10% in 2011. The report states that about two-thirds of Latin American production is from primary gold mines and the rest is from secondary sources, mostly copper and silver mines. Although Chile is Latin America’s fifth-largest gold producer – behind Peru, Mexico, Brazil, and Argentina – it holds the largest share of gold in active nonproducing projects equating to 29% of gold contained in resources under development. (more…)
