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.
Eastern Platinum (TSE:ELR), xxx, said that stike action by one of its mining contractors at the company’s flagship Crocodile River Mine is reducing mine output by 50%, which amounts to about 210 ounces of lost platinum group metal production each working day.
JIC Mining Services, one of the largest mining contractors in South Africa, and the National Union of Mineworkers have not yet reached an agreement. About 756 JIC employees working at CRM have joined the strike. Eastern Platinum says it is not involved in this dispute.
