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.
South Africa had been set to impose mining royalties (under the Mineral and Petroleum Resources Royalty Act) in May 2009. Yesterday, following discussions with labour and industry, South African Finance Minister Trevor Manuel (one of the smartest men in financial government anywhere in the world today in IM’s opinion) proposed a delay in implementing the royalty charges until March 2010 (part of the budget speech)….more at International Mining
