Outlook for miners ‘grim’, warns Cutifani

[miningmx.com] – ANGLO American CEO, Mark Cutifani, said the outlook for mining companies, especially thermal coal producers, looked ‘grim’, said Bloomberg News citing the mining group’s newly appointed boss.

“It does look pretty grim, certainly for the thermal coal industry,’ said Cutifani in a speech to a mining industry forum in Canberra.

“In the past 12 months alone, close to 9,000 mining jobs have been lost in New South Wales and Queensland,’ Cutifani said. “Based on current press coverage, those numbers look like they are about to rapidly increase.’

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