Squeezed mining companies face growth dilemma
High costs and the prospect of shrinking earnings have made big miners nervous about expansion, even as shareholders demand investment in response to robust commodity prices, China’s reopening and the role of minerals in decarbonising the economy. Although years of cost discipline have repaired balance sheets from past over-spending, full-year results announcements in February are expected to show a fall in miners’ earnings and in shareholder payouts from the record levels reported in 2022 after disruptions lowered output and costs rose for energy, explosives and equipment. Disruptions at copper mines ...
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