Mining is the backbone of our economy and here are a handful of projects which have failed in recent times,( and there have been many more), most which really should be up and running and profitable if properly managed.
PAN's Savannah nickel mine now gone into suspension after beimg under VA for some time..
G1A (lead/silver) trading halt re a strategic view of operations. SP has been in strong decline.
JRV (cobalt) in suspension after declinign Cobalt prices
STA (Mineral Sands) struggling to make money. debt burdened in part
VRX (Mineral Sands) project cant get off the ground in part due to red tape.
Despite 2+ years of the commodty boom narrative, depressed commodity prices are decimating miners. Bob Moriarty also claims that the Aussie Labour market is the worst in the world, things can obviously be done a lot cheaper everywhere else. See here at 4:50 mark https://www.youtube.com/watch?v=9z6MRDSCH-g&t=290s
If EVs dont take off by the late 20s as forecast, and its a real possibility, Lithium prices could stay depressed for years. Copper has been pivoting around $3.75/lb, which is the break even price for Tier 2 /3 copper miners. 29M AIS etc doing it tough.
When all these mines fail, thats a lot of job losses. Their severance pay or savings will probably be high so they wont hit the job queues for a while.
And as for the World bank report saying its all go again in 2025, our little Droid didnt read it in full, gloomy outlook for 2026 - 2027, and lower growth for the remainder of the decade. Globally economies peaked prior to the GFC, its all been flat since then, with only QE pushing the numbers higher. Stimulus times are over, times to get real and push Modern Monetary Theory to the side and get back to basics.
(20min delay)