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.
Analysts say lost oilsands production from the Fort McMurray wildfire could top 30 million barrels and cost the industry upwards of $1.4-billion.
Some of the largest oilsands producers in the province were forced to shut down or curtail operations last month as 80,000 residents of Fort McMurray evacuated the city to escape the fierce blaze, which has yet to be extinguished.
Damage to oilsands projects was minimal but Calgary-based analysts say restarting operations is taking longer than expected.
Read more at: Canadian Mining Journal
