Thursday, January 08, 2009

Rough year ahead for mining, metals companies

Standard & Poor says that 13 of the 43 public rated U.S. mining and metals companies have negative outlooks or on the CreditWatch list with negative implications, vs only 4 with postitive outlooks or on the CreditWatch with positive implications.

The only commodities that are holding their own are gold and coal.

The only way mining is going to turn around is if the economy picks up and demand for metals increases. That could be a while.

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