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.
On Wednesday the Thompson Creek Metals Company (NYSE:TC, TSX:TCM) announced it had closed its a $350 million offering of senior secured first priority notes.
The company’s press release indicated that the proceeds from the offering are, amongst other things, intended to help found the development of its Mt. Milligan copper-gold mine in British Columbia, Canada.
Stock in Thompson Creek Metals rose slightly over 2% on the day to reach $2.74 but remained far below the $3.77 high that the company saw in mid-September.
