There are a number of challenges South32 is likely to face, including potential Black Economic Empowerment ownership concessions and power price hikes.
In this interview with The Mining Report, Richards discusses his outlook for oil, gold, vanadium, zinc and nickel, and profiles companies with projects that will see the light of day even in harsh price environments.
In 2014, nine out of top 10 gold producers achieved significant reductions in all-in sustaining production costs, but average cash margin fell victim to bearish gold price.
Since Tommy regularly spends time with the sharpest minds of the natural resource sector (Lundin, Gisutra, Casey, etc.), we know how valuable his perspective is.