Spend don’t splurge, investors tell miners as M&A, capex surges
Capital expenditure among the 10 largest metals and mining companies is forecast to advance to about $35 billion this year, the first annual rise since 2013.
It expects to sell the key crop nutrient for $200-230 a tonne in the current quarter, compared to an average price of $254 a tonne in the previous three-month period.
The indefinite suspension of the Picadilly mine, in Canada's New Brunswick, is expected to cut the company's capital costs by $50 million in 2016 and $135 million over the next two years.