Miners going broke – worst still to come

[Johnnny]

Anyone paying attention will notice that copper nose dived and that platinum is not going to be getting ahead of gold anytime soon. And gold, :lol: there is a roller coaster


Miners going broke – worst still to come | MINING.com

Already high bankruptcy and default rates in mining & metals and oil & gas will only accelerate this year and the prolonged downturn in commodities will increasingly spill over into other sectors.

By the end of the April 34 companies had their debt ratings axed including marquee names like Rio Tinto, BHP Billiton (down two notches), Goldcorp and Codelco. A number also lost their investment grade rating for the first time such as Anglo American and Vale, both down three notches. Vale Canada were cut deep into junk territory after being downgraded a full five notches in February.