The Mining Industry: Slimming Down

The world’s giant miners long wanted to have it both ways. On the one hand, they bet on gigantic low-cost mines that could be easily expanded and guaranteed profitability through the price cycles that typify commodity markets. On the other, diversification was supposed to insulate the mining firms from the cyclicality of any single commodity. But the emergence of resource-gulping China in the mid-2000s and a commodity boom that saw prices rise across the board meant that big trumped broad.

The Mining Industry: Slimming Down

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