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.
There are few, if any, reports of damage to mines hours after a large earthquake rocked central and southern Mexico on Tuesday.
CBC News reports that the 7.4-magnitude quake shook buildings in Mexico City and about 800 homes were damaged in Oaxaca and Guerrero states. A pedestrian bridge collapsed on an empty transit bus and the airport was closed briefly; no deaths were reported.
Mexico City is built on a lakebed and is considered extremely vulnerable to earthquakes in the seismically active region. About 10,000 people were killed in 1985 when an 8.0-magnitude quake struck the city.
A 6.5-magnitude quake rattled Guerrero in December, leaving three dead.
Starcore International Mines, which has a gold-silver operation in Queretaro state, said in a statement Tuesday that mine and mill operations were unaffected:
“We are extremely grateful that our people at the mine and our operations are safe,” said Robert Eadie, Interim President and CEO of Starcore. “No deaths or serious injuries have been reported in Mexico City and the other areas most seriously hit by the earthquake, and we are hopeful that residents can recover quickly and return to their normal lives.”
