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.
Nyrstar (NYR.BR: Quote), the world’s biggest zinc producer, is to buy Canada’s Breakwater (BWR.TO:Quote) for C$619 million ($639 million) as it carries out its strategy to buy more mines and increase its self-sufficiency.
Belgium-based Nyrstar said on Wednesday it will pay C$7.00 per share in cash, and Breakwater shareholders will also get a special dividend of C$0.50 in cash.
