Signs of the times

摘要

Several major mining companies have taken drastic action to cope with the ongoing downturn, creating a parade of dividend suspensions, mine closures and production cuts in the news. PotashCorp announced in mid-January it had suspended its Picadilly potash operation, cutting between 420 and 430 jobs. Two weeks earlier, Imperial Metals suspended production at its Huckleberry copper mine and laid off 100 workers, citing declining copper prices. Freeport-McMoRan shut down its Sierrita copper and molybdenum mine in December. Anglo American suspended its dividend and cut 85,000 jobs that same week, due in part to restructuring.