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.
BofA Merrill Lynch said an investment demand required to sustain gold prices in a range of $1,500-2,000 per ounce could be feasible in the next five years.
The brokerage believes investment has had a critical influence on the gold market and investor buying is the key to its long-run supply and demand balances.
