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.
Aerial view of Agrium’s Vanscoy mine.
Fifty-four workers at Agrium’s (TSX, NYSE: AGU) Vanscoy Potash Mine in Saskatchewan, Canada, who had to spend the night in emergency shelters after a fire broke out underground around 9:45 p.m. (CST) on Friday, are all back on surface.
Speaking to CBC Radio, the site’s general manager, Mike Dirham, said the fire started on a scoop tram, which is a type of underground loader. Despite the equipment has a fire suppression system, flames were impossible to extinguish, so the miners headed for the shelters to escape the smoke.
“Everybody’s reported to be safe. There were no injuries. [They] just had to wait out the smoke in the mine and stay in refuge for awhile,” Dirham told CBC.
About 650 people work at the mine, which is approximately 30 kilometres southwest of Saskatoon.
