Oil's biggest crash in a generation has silver lining for miners [Business News Network (BNN) Energy & Resources (Canada)]
Franco-Nevada Corporation (FNV)
Last franco-nevada corporation earnings: 3/9 05:00 pm
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Source: Business News Network
Oil's biggest crash in a generation has silver lining for miners The financial turmoil crushing industrial-metals equities has a silver lining: lower energy prices can be a boon to miners. “It’s a big positive,” said David Harquail, chief executive officer of streaming and royalties company Franco-Nevada Corp. Fuel is a key operating cost for miners because it’s needed to run the giant machines that drill and process massive volumes of ore. Mining companies are “big energy consumers and to the extent their costs are lower, that helps their margins,” Harquail said in a phone interview. “If you look at the typical open pit, just the energy is about 25 per cent of the cost of moving rock and crushing rock.” How positive the effects will be varies by company depending on the type of metal they produce and how they mine it. “The more downstream processing is involved to the refined commodity, the more the oil impact is diluted,” Colin Hamilton, an analyst at BMO Capital Markets, said in a
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FNV
Earnings
- 11/6/24 - Miss
FNV
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form SC
- 11/7/24 - Form 6-K
- FNV's page on the SEC website