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Rock in a hard place

Depressed global commodities prices in recent years and further declines in the past few months – particularly of copper and gold – are pushing many industry players to breaking point. Perhaps unsurprisingly the pain is being felt most by junior, less-diversified mining companies.

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The difficulties have been compounded by cost overruns on many projects, a general shortage of liquidity in the project finance market and an increase in geopolitical risk as miners have sought to