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.
The U.S. Commerce Department said on Tuesday it was opening an investigation into whether imports of vanadium, a metal used in aerospace, defense and energy applications, impair U.S. national security.
The “Section 232” probe is similar to ones that resulted in broad tariffs on steel and aluminum in 2018 and a probe underway into imports of titanium sponge.
Commerce said the domestic producers that petitioned the agency, AMG Vanadium and U.S. Vanadium LLC, assert that they are hurt by unfairly priced imports, value added tax regimes in other vanadium-producing countries and “the distortionary effect of Chinese and Russian industrial policies.”
(By David Lawder; Editing by Chizu Nomiyama)
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