Use this guide to create your own emergency plan. Learn how quick and easy it is to become better prepared to face a range of emergencies – anytime, anywhere. You should be prepared to take care of yourself and your family for a minimum of 72 hours. If an emergency happens in your community, it may take emergency workers some time to reach you.
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CEO Aaron Regent left in June against a backdrop of cost overruns.Your Emergency Preparedness Guide - PDF Version (2 MB) Table of Contents took a US$1.61-billion writedown on its Hope Bay project in Canada, while Barrick Gold Corp. Kinross Gold Corp.’s CEO Tye Burt was fired after he presided over a US$2.49-billion writedown on the Tasiast mine in Mauritania, an asset Kinross acquired as part of its $8-billion purchase of Red Back Mining Inc.
These are things that shouldn’t have been done.” “What we are after is just greater discipline in the way these companies allocate the capital because these are mistakes. “If the companies had been better guardians of shareholder capital then we would have better performance from the shares.” Hambro said in a Jan. The company said last week the strong Australian dollar and weak prices were hurting its local alumina and nickel operations, spurring speculation of possible writedowns or asset sales.
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Anglo’s biggest shareholder, South Africa’s Public Investment Corp., said in October that Carroll made poor decisions on how to spend cash.īHP’s share price has “suffered from the perceived bad deals conducted in shale gas,” Goldman Sachs analysts wrote in a Jan. Merger and acquisition activity peaked in 2006 when mining and metal businesses spent more than US$200-billion.Īnglo American said Tuesday its Minas-Rio project, which has been dogged by delays and budget overruns, will now cost US$8.8-billion to develop, up from US$2.6-billion when Anglo bought it in 2008. Natural resources companies went on a deal spree in the past decade, spending US$1.1-trillion chasing growth, according to data compiled by Bloomberg. “Decisions made are now coming home to roost.” “It’s a hangover effect from the metals and mining euphoria we’ve had in the past 5 to 10 years,” Jeff Largey, a London-based analyst at Macquarie Group Ltd., said in an interview. Anglo American slipped 0.8% and Glencore dropped 0.7%. in London, while BHP was little changed at 2,154 pence.
Spokesmen for BHP and Glencore declined to comment. BHP in August announced a US$3.3-billion charge on gas and nickel assets. Glencore may write down as much as US$2-billion following its US$37-billion takeover of Xstrata Plc, due to be completed in March, according to Richard Knights, an analyst at Liberum said.īHP, the world’s biggest mining company, may lower the valuation of its nickel and aluminum assets by about US$5-billion, Bernstein said in a report Wednesday, while Goldman Sachs said in January that BHP may take a US$2-billion to US$3-billion impairment on aluminum. The Dow Jones Industrial Average gained 7.3% last year and 5.5% in 2011. The Bloomberg World Mining Index rose 2.9% last year after dropping 31% in 2011.
That has trimmed profits, sapped investor appetite for further deals and spurred calls for greater returns. The mining industry’s merger and acquisition missteps have been compounded by higher costs for energy, labor and construction materials. This advertisement has not loaded yet, but your article continues below.
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