After a long drought stretching from 2011 to late 2015, the mining industry is finally starting to “feel the love” from investors again even though it is not exactly a very robust recovery and is still patchy in its effects. Quite a number of
major and minor metals still trade at a mere fraction of their highs over the last decade and scarcely anywhere can one say the user demand is robust. That said, a small revival in investor interest has had a disproportionate effect on valuations and sentiment.
Financing has recovered with a slow start in the early months of this year gradually gathering steam as the year advances. There are however significant differences between this recovery and the previous boom periods over the last 15 years and one must be careful to discriminate in which ways “this time it will be different”.
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