ASM's front-end business faces formidable competition, including the two largest chip equipment firms in the world.ASM operates in the deeply cyclical semiconductor equipment industry and is prone to unpredictable swings in business.In 2011, 28% of sales came from ASM's 10 largest customers.ASM may
With Spain's economy struggling, investment opportunities could contract for Red Electrica.
The cost of shipping iron ore to China consumes a significant portion of economic rents that would otherwise accrue to Vale. Australian iron ore producers are better situated geographically to serve the Chinese market.Vale has a rather checkered record as an acquirer. Labor unrest at the former
Extreme weather events are masking Compass' earnings power in the near term.
Sovereign risk heightened following the Australian government's intended Resource Super Profits Tax. The softer replacement Mineral Resource Rent Tax has reduced, but not erased, this risk.The global economy is cooling off. Demand for natural resources in China may have peaked, and the Chinese
Sovereign risk heightened following the Australian government's intended Resource Super Profits Tax. The softer replacement Mineral Resource Rent Tax has reduced, but not erased, this risk.The global economy is cooling off; demand for commodities will follow suit.Diversified miners' stocks always
USEC is banking on its American Centrifuge project, but success is far from certain.
Teck's assets are in low-risk jurisdictions, but they aren't especially low-cost.
Demand for natural resources in China may have peaked, and the Chinese economy could begin to cool off.Diversified miners always trade at discount valuations to pure plays. Investors interested in gaining exposure to a specific commodity would be better off investing in pure plays.Although
Sovereign risk heightened following the Australian government's intended Resource Super Profits Tax. The softer replacement Mineral Resource Rent Tax has reduced, but not erased, this risk.The global economy is cooling off. Demand for commodities will follow suit.Diversified miners' stocks always