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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Mechel OAO, one of the leading Russian mining and metals companies, announced that coal mining at New-Olzherassk Underground mine has been resumed following spontaneous combustion problems. By the year’s end, New-Olzherassk’s section # 21-1-7 is planned to yield some 352,000 t of coal. The reserves of this longwall face are estimated at some 3 Mt. The face is equipped with mechanised shield supports made by ZF of China and a shearer, a face conveyor and outbye conveyor from Joy Mining Machinery in the UK. (more…)
