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.
Copper Investing News delves into the history books and takes a look at copper mining on the island of Cyprus which is so closely associated with copper, that the word “copper” is actually derived from the Greek name for the island, Kupros.
Cyprus’ copper deposits are being revalued and in 2010, around $13 million worth of copper was exported from Skouriotissa (pictured), the world’s longest producing commercial copper mine first explored in 1914 but exploited since the Bronze Age.
Copper Investing News reports:
The majority of the copper produced in 2010 came from the processing of waste material from previous mining operations. In the past, only the richest copper deposits were exploited, now, given the new technology and economics behind the copper market, there is a point in revisiting some of the material left behind. In addition to reprocessing previous waste material, Hellenic Copper Mines is looking into reopening some of the mine’s ancient pits.
Comments
The mafia Man
Do anything,destroy anything, rape anything to make a $$. This is a ‘mind set’ that will someday destroy us all……