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Investors have been concerned about the exposure of investment groups and banks to the commodities sector after the tumbling oil price and falling mining shares.
The main contributor to the monthly fall in industrial output came from falling mining and quarrying output, of which oil and gas played a big part, the ONS said.
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With commodity prices at depressed levels and continuing to fall, mining companies have increasingly been relying on mergers and joint ventures to reduce risk and lower costs.
It meant that during those mining boom years, despite very strong output growth, productivity was falling: The mining and the electricity, gas and water industries were the two big drags on national productivity – mining due to the massive investment in new mines, and the electricity sector due to the massive investment (some would argue overinvestment) in the electricity network.
As single GPU mining fell to parallel mining the speeds seemed to explode – along with energy usage.
Some worry that investment in infrastructure will fall as mining companies retrench.Even so, there is reason to think the "resource curse" is losing its power.
Nevertheless, they expect the gap to narrow, although they disagree on whether gold will fall or mining stocks will rise — or whether there will be some of both.
Both hit Luis Virata; his fortune is down 80% because of falling profits at mining firm Nickel Asia and the discovery that he holds a smaller stake than previously estimated.
Actually, it fell through mine, the one of us licensed to pronounce publicly on cosmic affairs.
"But, growth at all costs is a dangerous trap that many startups fall into, mine included".
Discovered in 1883, the mines of Broken Hill were the backbone of BHP and the Rio Tinto progenitor well into the 20th century but started to fade in the 1970s as metal prices fell, the mines got deeper and a heavily unionized workforce stood pat.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com