THE YEAR THAT WAS 2012 IN MINING WORLD WIDE

RECAPPING ON MINING EVENTS FOR THE YEAR THAT WAS 2012

2012 will go down as the year when the wind fell out of the sails of economic recovery and serious financial storms rocked the boat of major miners, throwing a few CEOs overboard in the process.

Cynthia Carroll (Anglo American), Aaron Regent (Barrick Gold), Robert Friedland (Ivanhoe), Marcelo Awad (Antofagasta Minerals) and Diego Hernandez (Codelco) were only some of the executives who left their companies, either because they chose to or because of shareholders pressure.

Miners, big and small, reported lower than expected profit and decided to re-evaluate projects, resulting in scaling back expansions and shelving of major projects.

BHP Billiton (ASX:BHP), for instance, scuppered its original Olympic Dam expansion plans in August after determining the project to be uneconomic. And other giants, such as Rio Tinto (ASX:RIO), Xstrata (LON:XTA) and Vale (NYSE:VALE) cut jobs worldwide, especially at coal operations in Australia.

But after Google’s billionaire co-founders and filmmaker James Cameron launched their asteroid mining company, Planetary resources, space exploration became the most popular topic of the year, as our list of MINING.com’s top stories of 2012 shows:

Sourced & published by Henry Sapiecha

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