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.
Suncor Energy announced that oil sands production was approximately 312,000 bbls/d lower after unplanned maintenance at its Oil Sands Base plant in early November.
The company said the issue was resolved and the plant recovered, producing over 380,000 bbls/d.
The company also said that oil sands production for 2012 will be at the lower end of the guidance range of 325,000 to 340,000 bbls/d.
The company also announced progress with its in situ facility.
“Firebag 4 was safely commissioned during the third quarter, approximately three months ahead of the original schedule. The Firebag complex exited the month of November producing approximately 130,000 barrels per day (bbls/d),” wrote the company.
Image by Loco Steve
