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.
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A report released recently by the International Energy Agency (IEA) predicts that under current polices, primary world energy demand will grow 51% between 2009 and 2035, with global demand for coal increasing by as much as 65%. IEA’s latest World Energy Outlook 2011 predicts that coal will continue to be tapped to meet more than a third of the predicted increase in global energy demand. The report concludes that China and India will account for more than half of the projected increase in global energy use. IEA notes that China “consumes nearly 70% more energy than the U.S. by 2035, even though, by then, per capita demand in China is still less than half the level in the United States.” (more…)
