Currency and Oil Price Rise Putting Pressure on Miners

摘要

MANY MINING COMPANIES ARE BEING PRESSURED BY THE RECENT RISE IN CURRENCY AND IN OIL PRICES. The FALLING VALUE OF THE US DOLLAR AND THE RISING PRICE OF OIL HAS MADE IT DIFFICULT FOR MANY COMPANIES TO CONTINUE RESULTING IN THE CLOSING OF MORE COMPANIES. PRICE OF commodities like iron ore, coal, and copper have all fallen by about 20-50% in the last year making it difficult for many companies to stay afloat. Many companies have started to sell off commodities to help offset the costs but this strategy is not working either as the value of commodity currencies has fallen as well by 20-60%.