{"id":2894,"date":"2013-07-31T20:52:19","date_gmt":"2013-07-31T20:52:19","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=2894"},"modified":"2013-07-31T20:52:19","modified_gmt":"2013-07-31T20:52:19","slug":"are-miners-selling-themselves-to-death","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=2894","title":{"rendered":"Are miners selling themselves to death?"},"content":{"rendered":"<p><strong>By Jim Woods<\/strong><br \/>\n<em>Editor-at-Large, The Wealth Shield<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-2896\" alt=\"tintoaus160\" src=\"http:\/\/juniorminingnews.com\/wp-content\/uploads\/2013\/07\/tintoaus160.jpg\" width=\"160\" height=\"202\" \/>When demand for your industry\u2019s product wanes, the first instinct for many CEOs is to cut, slash and burn costs. Such is the case right now in industrial-metals mining stocks, where some of the industry\u2019s biggest names are moving to divest their high-debt holdings as demand for commodities such as copper and iron ore decline and prices fall.<\/p>\n<p>Most recently, U.K.-based mining stock\u00a0Rio Tinto\u00a0announced it was\u00a0selling its majority stake in its Northparkes Australian copper and gold mine\u00a0to\u00a0China Molybdenum<b>\u00a0<\/b>for $820 million. Given that Rio is one of the biggest mining companies in the world, the deal to divest some 80% in the Northparkes mine can be read as a clear signal that the company is less than bullish when it comes to global demand for copper.<\/p>\n<p>A completed deal would push Rio\u2019s asset sales to $1.5 billion so far in 2013, according to Citigroup\u2019s Heath Jansen; earlier this year, Rio sold its Palabora mine for $373 million and the Eagle Nickel property for $325 million.<\/p>\n<p><a href=\"http:\/\/investorplace.com\/2013\/07\/are-mining-stocks-selling-themselves-to-death\/\" target=\"_blank\"><strong>Continue reading . . .<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When demand for your industry\u2019s product wanes, the first instinct for many CEOs is to cut, slash and burn costs. Such is the case right now in industrial-metals mining stocks.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2894","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/2894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2894"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/2894\/revisions"}],"predecessor-version":[{"id":2897,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/2894\/revisions\/2897"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}