"mining is not an economic viable business if the cost of production far outstrips the cost of commodity looking 12 mths forward..making profits??????????? not on some mines I am afraid."
I agree. Already on the radio this am they are saying some mines are being put into 'caretaker' mode as metal prices fall below costs. Others that are due to come on line are being put on hold. Others that are/where in the process of getting finance are on hold or being scrapped.
BHP and the other biggies will ride this out and come good again in a couple of years.
"mining is not an economic viable business if the cost of...
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