The mining newspaper for Alaska and Canada's North

Profits of top miners plummeted in 2012

Industry focuses on maximizing value of existing projects; new projects need 25 percent internal ROI or better to interest buyers

Further proof that the mining industry is undergoing fundamental changes can be found in "Mine: A Confidence Crisis," the 10th edition of PricewaterhouseCoopers's annual report on the global mining industry. This recently released report indicates that in 2012 the top 40 global mining companies saw net profits plummet 49 percent to US$68 billion.

To make matters worse, after a 25 percent decline i...

 

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