Miners Battle to Stay Alive as Albanese Sees Return to 1990s
- Vedanta CEO says news from China dominates miners' sentiment
- Miners hesitant to call a bottom in commodities prices
Vedanta Focused on Meeting Debt Requirements: CEO
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It’s time for mining companies to hunker down and fight to stay in business, Vedanta Resources Plc Chief Executive Officer Tom Albanese said.
“This is exactly where we were in the late 1990s," Albanese, the head of India’s biggest aluminum and copper producer, said in an interview with Bloomberg Television on Monday. “The survivors were the ones that enjoyed the benefit when China kicked in starting in 2003. Those who can manage their balance sheets the best in this period of time, manage their assets the best, stay opportunistic. We could be OK.”