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.
Polymetal has agreed to acquire two gold deposits in Magadan suitable for providing feed for the Kubaka mill. It will acquire a 100% interest in Rudnik Kvartsevaya (RK), the owner of the Sopka and Dalniy mining licences for 10 million Polymetal shares. RBC Capital Markets views the proposed transaction as positive as the projects will provide substantial synergies and more high grade feed for Polymetal’s existing Kubaka mill complex in Magadan. (more…)
