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.
After talks began last September and no other offers materialized, Canadian zinc miner Breakwater Resources (TSX: BWR) announced early Wednesday that it had accepted Belgium based metals producer Nyrstar NV C$7 per share all-cash offer.
Nyrstar will pay around C$619 million for Breakwater; an offer Breakwater CEO David Petroff called “an attractive and fair premium to the current share price,” thanks to a 44% premium.
