The mining industry continues to adapt to a lower metal price environment, and one executive says there may be interesting developments moving forward. ‘Silver is interesting because there’s a certain level of supply that’s going to keep coming onto the market no matter where prices are,’ Courtney Lynn, treasurer for Coeur Mining, told Kitco News at the London Bullion Market Association (LBMA) conference in Vienna. Lynn noted that not many producers were present at the annual industry conference. ‘It would be nice to have better representation from producers and I am quite surprised there aren’t more of us here.’ Commenting on hedging, Lynn said mining companies shouldn’t use this tactic to improve returns. ‘I think there is a misconception that you can lock in a margin…labor is a large component of our cost and even though diesel and other commodity inputs go down, it’s very hard to cut people’s wages,’ she explained. ‘Costs tend to be sticky on the way down and not so sticky on the way up…the other thing if you don’t have good assets, you can’t financially engineer your way to good assets.’ Kitco News, October 28, 2015.
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3 Comments
silver talk is good talk
This lady used to work at JPM!!!
Daniella doing it very tough, she doesn't look well at all…you're a trooper though!