Goldman: Iron ore price to decline next two years
"Prices must overshoot relative to marginal production costs in order to trigger mine closures on a sufficient scale."
"Prices must overshoot relative to marginal production costs in order to trigger mine closures on a sufficient scale."
Canada's dominant oil sands player, however, plans to spend about $900 million more next year.
“The floor of this market is in the hands of the top five mining companies."
Until early November, the failure at the Canadian Mount Polley copper mine had been the worst such breach in recent years.
The miner has also been extremely hard-hit in recent months by a double whammy of falling prices and China fears.
The Managing Director of the Nigerian Export-Import Bank (NEXIM Bank), Mr. Roberts Ungwaga Orya, received a team from the World Bank led by Dr. Francisco Igualada, Senior Mining Specialist, Energy & Extractives Unit, and Mr. Linus Adie Utsu of Mining Investments Consult that visited the Bank to share ideas on how to provide structured intervention towards revamping and deepening Nigeria’s mining sector.
With Japan finally restarting some of its nuclear reactor fleet (two reactors have come online since August) and China continuing its breakneck reactor build-out (with 29 reactors in operation and 22 under construction), the one commodity in the natural resource space that is actually carrying some positive fundamentals today is uranium.
If all of this year's approved coal plants get built, they will have a total capacity of 123 gigawatts, equivalent to building 61 Hoover Dams.
222 Tasiast employees let go in September.
The gloomy outlook comes as the International Energy Agency predicts crude oil won't reach $80 a barrel until at least the end of the decade.