DRYBLOWER

Dryblower and the unexpected "problem" of lazy balance sheets

IT'S been a long time since anyone said big mining companies have lazy balance sheets but when Glencore agreed last week to invest $US300 million in a Russian oil deal, <i>Dryblower</i> was reminded of a recent comment about the miner's "printing cash".

Dryblower

Dryblower and the unexpected "problem" of lazy balance sheets

UBS, an investment bank, used the printing-cash remark in a research report which noted the effect of sharply higher commodity prices and lower operating costs on cash generation by the miners. It is...

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