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.
Finland could become the first European country to halt the usage of coal for energy production.
Bloomberg reports that Finland’s economy minister Jyri Haekaemies has put the phasing out of coal for energy purposes on the discussion table in a big way, by fielding a tentative yet specific date for an end to its usage.
“I think we could set a target for Finland phasing out coal use as the first country in Europe, for instance by 2025” said Haekaemies in the Finnish parliament last week.
According to Haekaemies the use of renewable energies will be spurred by government subsidies and tax cuts, with a revised policy document to be issued by the end of this year.
The small Scandinavian country is dependent upon imports for all of its coal, with chief sources being nearby Russia and Poland.
