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A sheep in wolf's clothing

As if we needed reminding, the London Metal Exchange Week just gone has served magnificently to ram home the reality that we’re in a major slump as an industry.

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Out of gas … capital markets have stopped funding the mining sector (photo: David Falconer; NARA)

There has been plenty written and spoken about cancelled development projects and the lack of exploration funding, but last week research firm Wood Mackenzie finally put a number on it for us.