Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Friday 03rd of September 2010
Monday, September 17, 2007

Climate change report highlights miners’ exposure

Climate change report highlights miners’ exposure

Citigroup, the international financial conglomerate, has published a report that seeks to define the potential impact of climate change on mining companies.

The study reviewed the operations of 12 major mining companies and suggests that BHP Billiton, Rio Tinto and Norilsk “probably have the most significant exposures to manage” in the event of more frequent or more severe weather events.

The report looks at the potential for extended operational shutdowns, or the loss of operating licences due to environmental disasters.

It also takes into account the possibility that sea ice reduction could open up new Arctic shipping routes, increasing logistics opportunities for mining companies.

At the same time, food shortages and increased tropical disease in Africa could result in social and political instability.

Severe weather events may also affect the availability of fresh water, which is critical to most mining and processing operations, while new environmental legislation may place additional restrictions on exploration.

Operational disruptions caused by climate change could impact on commodity markets.

If, for example, major damage occurred at an export port, shipments could be delayed, forcing up prices in the related commodity market.

The companies reviewed by Citigroup for their climate change analysis included Alcan, Alcoa, Anglo American, Barrick, BHP Billiton, Freeport, Grupo Mexico, Lonmin, Newmont Mining, Norilsk, Rio Tinto and Norilsk.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Climate change report highlights miners’ exposure

Steep rise in silicosis in South African gold mines ...

BHP Billiton scraps plans to acquire Rio ...

Rio sues Indonesian officials over nickel prospect ...

PWC predicts “record high” M&A activity will continue ...

Peruvian miners vote for June strike ...

Latest Metals News:

Latest News  US pending home sales data helps copper prices

Latest News  Positive data chases gold prices lower

Latest News  Gold gains on search for safetey ahead of economic data

Latest News  Gold gains as US dollar weakens

Latest News  Gold prices fall on US jobs news

Latest News  US durable goods orders, new home sales drive metals price moves

Latest News  Gold gains, copper drops on US home sales data

Latest News  Copper prices fall on economic, demand concerns

Latest News  US unemployment numbers hurt copper prices

Latest News  Copper prices gain on more inventory declines


Previous: «
Next: »

Visited 1760 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):