The news at this link is that Xstrata and Glencore are going to consummate their marriage. Analysts will write about the impact another mega-mining company will have on share prices, competition in the mining industry, and the impact of South Africans who fled the country. I will blog below on some of the more obscure aspects of the deal. (more…)
Posts Tagged ‘Xstrata’
On February 9, 2009, I wrote a scurrilous comment on the miners in Sudbury, Ontario just laid off by Xstrata. Today, I read a sober, thoughtful, and intelligent comment on the mining situation in Sudbury. The author is Stan Sudol and I compliment him. And I hope my compliment is strong enough to induce you to go and read his complete article. Here is just one paragraph to further get you to go read the rest:
It takes no time at all to cull a series of reports and opinions that mining finance is getting harder to come by. Here are some I found in but a few minutes of blog searching. There may be others of greater perspicacity in the news sections of the web.
The following hardly need comment, other than my summary which is that unless you have a very good ore body and a very, very good relationship with you banker, you may be in trouble. Whether or not you should shoot a gift off to Palin, McCain, or Obama in the hopes of bringing them around to action to free up mining finance, I leave to you to decide.