Thursday, May 23, 2013

Marc Faber - Mining is a tough business


I’m on the board of some mining companies. They’re always optimistic about the price of copper, the price of gold and the outlook for mining.

As a director of these companies I can tell you mining is a very, very tough business. Extremely difficult. You have to deal with finding resources, exploiting the resources, and then comes the big question mark, the environmentalists, the government, expropriations and increased royalties. These are all huge risks.