Goldman: Here's Why Miners Have It Worse Than Oil Producers
Mine, baby, mine.
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"Things'll go your way, if you hold on for one more day," vocal group Wilson Phillips once crooned.
Mining companies seem to have taken those lyrics to heart, opting to maintain production as long as their cash reserves allow and in effect delay a long-awaited resolution in the supply-and-demand balance of dry commodities, according to a new note from Goldman Sachs & Co.