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1108MTBA
Mining brought to its knees through no fault of its own
THE Manitoba mining industry has been under a spotlight recently, starting with the otherwise celebratory nature of the annual provincial mining conference last week.
Then on Friday, one of the province`s two largest miners -- HudBay Minerals -- announced its intentions to merge with Lundin Mining to form the second-largest Canadian base metal miner. Later that day it became clear that not only was that deal not worth celebrating -- HudBay`s shares fell 40 per cent -- the whole industry is on its knees, with mines and development projects being put on hold all over the world.
http://www.winnipegfreepress.com/business/35179114.html
Mining brought to its knees through no fault of its own
THE Manitoba mining industry has been under a spotlight recently, starting with the otherwise celebratory nature of the annual provincial mining conference last week.
Then on Friday, one of the province`s two largest miners -- HudBay Minerals -- announced its intentions to merge with Lundin Mining to form the second-largest Canadian base metal miner. Later that day it became clear that not only was that deal not worth celebrating -- HudBay`s shares fell 40 per cent -- the whole industry is on its knees, with mines and development projects being put on hold all over the world.
http://www.winnipegfreepress.com/business/35179114.html