GRACELIN BASKARAN: Mining industry’s short-termism will restrict growth
Bearish reaction to financial crisis will have knock-on effects for the sector
09 November 2023 - 05:00
There’s a thing or two the global mining industry can learn from the global financial crisis and its effect on the sector. Most notably, that short-term thinking is not conducive to long-term growth.
Albemarle, the world’s largest lithium company, is like so many other mining companies grappling with the fallout from a struggling economy. It recently announced that its net income dropped 65% in the third quarter. The company also recently revised its annual sales growth forecast downwards, from 40%-55% three months ago to 30%-35%. ..
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