After successful years of rising metal prices and investing on takeover deals and massive new projects, Canadian mining companies were forced to tailor shortly their expectations in 2013 as the cycle changed the winning play cards.
The mining industry took billions USD in write downs as companies re-evaluated projects that they believed were worth far more just a couple of years ago and downsized spending as falling commodity prices put pressure on margins. In fact, it was not just financial problems for the mining companies, as political and environmental issues brought negative headlines around the world for several Canadian mining companies.