Mining companies will spend $11.9 billion on water infrastructure in 2013, up from the $3.4 billion spent in 2009, says consultancy group Global Water Intelligence.
The rising costs have prompted Moody's Investors Service to warn of possible risks to credit ratings, creating more worries in an industry battered by falling metal prices and surging costs.
"In our opinion, the consequences of poor environmental risk management will increasingly lead to production stoppages, protests, fines, and license withdrawals - all factors which may directly impact mining companies' profitability and credit risk profiles," the ratings agency said in February.
No comments:
Post a Comment