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.
A dispute that stalled plans to revive uranium mining in Spain has been resolved.
Stock in London-listed Berkeley Resources added 9% on the news that the it will waive its rights to mine in reserves where Enusa – Spain’s state-owned nuclear enterprise – has already begun rehabilitation while receiving “full exploitation rights” for other deposits.
The venture between Berkeley and Enusa dates back to 2009, but the Perth-based miner took Enusa to International Court of Arbitration after it failed to set up the necessary joint venture company to start mining.
World Nuclear News reports reports “low uranium prices led to the cessation of uranium mining in Spain in 2000, and today Spain imports some 1600 tU per year for use in its nuclear power plants.”
