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.
CONAKRY, May 14 (Reuters) – Guinea’s Societe Miniere de Boke (SMB) has completely shut down bauxite production at its mine for the past 10 days owing to a staff walkout, its director general said on Monday.
SMB Director General Frédéric Bouzigues told Reuters by telephone that the company had already lost between one million to 1.2 million tonnes of scheduled bauxite production because of the strike, with losses running to $1 million a day.
(Reporting by Saliou Samb; Writing by Tim Cocks; Editing by Edmund Blair)
