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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In the International Mining March issue Great Mines article, John Chadwick will describe one of the world’s great new copper/cobalt operations, which is now expanding into its Phase 2 operations for 195,000 t/y of copper cathode and 15,000 t/y of cobalt. Tenke Fungurume Mining (TFM) has invested more than $2 billion in its copper and cobalt operations in the DRC’s Katanga province. We welcome editorial input to the article if your company is involved in the project. It was always destined to be a truly great mine and today TFM’s (57.75% Freeport McMoRan Copper and Gold [FCX], 24.75% Lundin Mining and 17.5% Gecamines) concessions encompass over 1,500 km2 located some 175 km northwest of Lubumbashi. Lundin says the concessions “remain extensively under-explored.” (more…)
