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.
Djibouti contracted a Kuwaiti company to build a $98-million road link to enable landlocked Ethiopia to ship its first potash output from a new Red Sea port, officials said.
Kuwait City-based Mohammed Abdulmohsin Al-Kharafi & Sons Co. is constructing the 128-kilometer (79.5-mile) road connecting the harbor to the border, while Ethiopia plans to provide an 11-kilometer stretch on its side, according to Aboubaker Omar Hadi, the chairman of Djibouti’s ports authority. The Chinese-built Tadjourah port will serve cargo ships as well as bulk carrier vessels for potash companies in northern Ethiopia, with the road to be completed in time for the start of production next year, Hadi said by phone.
