Mining spending cuts said to be far from over

Capital spending cuts by mining companies are far from over, according to one metal strategist.

Miners’ capital spending has plunged by around one-third since a peak in 2012, dropping to an expected $150 billion this year from about $225 billion, Mark Fellows, director of consulting for Charlottesville, Virginia-based SNL Metals & Mining, told Metal Bulletin sister title AMM. Sustaining capital expenditures have fallen by 13%, while capital expenditures on new developments have been hit hardest, with brownfield projects spending down by one-quarter and greenfields spending down by almost one-third. “One thing...

Published

September 23, 2015

10:52 GMT