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.
NEW YORK, Dec 6 (Reuters) – Brazilian miner Vale’s chief executive said on Wednesday he does not expect iron ore prices to be much lower next year compared with 2017.
Speaking at an investors’ event in New York, Fabio Schvartsman also said the company would do everything to resume operations as soon as possible at the Samarco mine, a joint venture with BHP Billiton that has been closed since a tailings dam collapsed in 2015, killing 19 people.
(Reporting by Christian Plumb; Editing by Susan Thomas)
