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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The rhenium market went through a significant downward correction in 2009 after a period of strong demand growth and an escalation in prices up to the last quarter of 2008. The credit crisis and associated recession, particularly in North America and Europe, severely affected the major markets for rhenium and demand dropped by 16% in 2009. Primary production of rhenium responded by falling by almost 10%, but this was not enough to stop prices plummeting from a peak of $12,000/kg on a spot basis towards the end of 2008 to around $4-4,500/kg in mid 2009 before bottoming out. In June 2010, rhenium metal prices were $4,500-5,000/kg. (more…)
