Two large cities in Russia's Perm region sit on potash mines worked for the past 70 years that cause sudden surface subsidences and sinkholes 400m across.
“Anybody who says that the super-cycle is over is an idiot, it’s just been deferred for a little bit”, mining tycoon Robert Friedland told a packed audience in London last week.
In his first investor day since buying Xstrata last year, Glencore’s boss highlighted his company’s spread of commodities and took aim at the expansion strategies of Rio Tinto and BHP Billiton.
A study of about 40 explorers budgeting at least US$50 million total shows the larger players allocated a total of US$4.33 billion and accounted for 40% of the US$10.74 billion worldwide exploration total.
Anglo’s boss Mark Cutifani says company needs to find an extra $2 billion of earnings before interest and tax to meet the return on capital target set for 2015.