In ultimate charge of how much and in what direction these funds are spent are the company boards.
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The mining industry is made up of thousands of companies, mostly juniors, that are required to deploy vast swathes of shareholder funds because of the capital-intensive nature of the business. From December last year to April this year, the sector splurged some US$50 billion on sustaining, development and expansion projects, according to SNL Metals and Mining.
In ultimate charge of how much and in what direction these funds are spent are the company boards.
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