Study shows the most efficient mines in top producer Chile now produce copper for less than $1 a pound after finding an additional 13% in savings this year.
Oil and gas companies have gutted their capex budgets, necessary moves as drillers went deep into the red following the crash in oil prices. But the sharp cutback in investment means that huge volumes of oil that would have otherwise come online in five or ten years now will remain on the sidelines.
It’s not yet clear whether it will be generally approved by securities regulators as a defensive mechanism for all other public companies facing hostile takeovers.