Top executives from North America’s biggest metals producers are bracing for a turbulent 2023 marked by recession, geopolitical risks and an uncertain investment climate. mining
Top executives from North America’s biggest metals producers are bracing for a turbulent 2023 marked by recession, geopolitical risks and an uncertain investment climate that could change the face of mining.
Precious and base metal producers alike have faced pressure to fork over higher taxes and curb exports, sometimes facing the risk of expulsion.Barrick’s Bristow said the precious metals sector requires “considerable consolidation” in the near term, but “no more stupid M&As.” Declining output and old assets make smart investments hard to come by, but he expects the industry will get acquisitive.
Brazilian giant Vale SA is also looking to sell part of its base metals business, which includes a chunk of the nickel-rich Sudbury basin in Canada, in the coming months.
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