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 gold explorer finding a million-ounce deposit is quick to say “world class”, but when an established gold miner promises single-mine production of 750,000 ounces a year, eyebrows may rise. That’s the production target for the Gold Fields South Deep mine in South Africa, an ongoing saga which was given further details by Gold Fields CEO Nick Holland at the recent Bank of America Merrill Lynch Global Metals & Mining Conference, in Barcelona.
