If major banks and pension funds make it clear they are withdrawing from investing in mining companies, it’s likely share prices will suffer, leading other investors to withdraw funds, even if they don’t have quite the same moral qualms. There is also the risk of a cascade of negative outcomes for mining. Lack of capital means it becomes harder and harder to get new mines built or exploration drilling undertaken. If investors don’t want to commit funds to the industry because of fear over damage to their own image from poor mining practices, then the industry will be starved of capital. If mining has a poor safety and community image, it becomes “uninvestable”, to use the words of a senior global banker, talking at the 121 Mining Investment event in Cape Town this week, held under Chatham House rules. It may seem somewhat trivial to talk about image in the face of such a human tragedy, but mining’s poor image across a range of stakeholders is the major issue for the industry. Namely that miners aren’t trusted and suffer from a serious image problem. These are valid concerns, but the risk of focusing on the immediate issues is that the much larger problems of the mining industry are once again glossed over. The opinions expressed here are those of the author, a columnist for Reuters.)ĬAPE TOWN, Feb 6 (Reuters) - The response to the horrendous dam collapse at a mine owned by Brazil’s Vale has focused on iron ore prices and how a disaster that will likely claim more than 300 lives occurred, and what must be done to make sure this doesn’t happen again. Continued abuse of our services will cause your IP address to be blocked indefinitely.(Repeats with no changes to text. Please fill out the CAPTCHA below and then click the button to indicate that you agree to these terms. If you wish to be unblocked, you must agree that you will take immediate steps to rectify this issue. If you do not understand what is causing this behavior, please contact us here. If you promise to stop (by clicking the Agree button below), we'll unblock your connection for now, but we will immediately re-block it if we detect additional bad behavior. Overusing our search engine with a very large number of searches in a very short amount of time.Using a badly configured (or badly written) browser add-on for blocking content.Running a "scraper" or "downloader" program that either does not identify itself or uses fake headers to elude detection.Using a script or add-on that scans GameFAQs for box and screen images (such as an emulator front-end), while overloading our search engine.There is no official GameFAQs app, and we do not support nor have any contact with the makers of these unofficial apps. Continued use of these apps may cause your IP to be blocked indefinitely. This triggers our anti-spambot measures, which are designed to stop automated systems from flooding the site with traffic. Some unofficial phone apps appear to be using GameFAQs as a back-end, but they do not behave like a real web browser does.
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