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.
Sirius Minerals (LON:SXX), which is trying to fund a $2.7 billion potash project in Britain, is looking for US$300 million to US$500 million investment to launch from American, European and Asian investors.
The company’s chief executive officer, Chris Fraser, made the comments at the Boao Forum for Asia over the weekend, which were reported by South China Morning Post .
Sirius has secured mineral rights for 631 sq km of land and has started drilling in the North York Moors National Park.
The company says it has the potential to become a tier-one potash producer.
Creative Commons image of Shanghai by Pictrues
