Oil Price Impact on Mining Industry: Literated Market Research
Even with the price of oil touching historic lows and even as energy costs comprise a huge part of the operational costs, the mining industry are still looking at procuring and establishing alternative forms of energy like solar or wind energy. Markets expect the oil prices to remain low for the next two years and then go up but the average life of a mine is 25 to 30 years. Hence the low oil price can only affect the mines in the short term. - September 24, 2015
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