The industry argues that the free carry -- which means the respective groups don’t have to buy their shares or pay their way -- will make new developments even less likely.
The 35-member union includes China Molybdenum Co.-controlled Tenke Fungurume Mining and MMG Ltd., as well as subsidiaries of China Nonferrous Metal Mining Group and Huayou Cobalt Co. Sicomines, among others.
One of the strangest stories in the mining industry this year has been the battle between Russian gold miner Petropavlovsk Plc and its activist, mystery shareholders.