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.
The German potash mine operated by K+S, where three workers died from carbon dioxide poisoning earlier this month, will remain closed until at least the end of November, the company said on Tuesday.
The firm said its ability to make deliveries has not been affected as existing orders are being processed by sister plants. It added that close to 80 employees from the halted operation, close to town of Unterbreizbach, are currently deployed to provide support for mining and production operations at the Werra plant site in Hesse.
The Oct. 1 blast caused a major carbon dioxide leak, poisoning the air of a 700 metre deep shaft in which seven miners were working. Only four managed to escape.
The K+S Group owns six mines in Germany.
