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Berkshire Ramps Up Wager on Occidental as Crude Prices Surge

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Reuters

Mining companies may pause growth plans amid Ukraine war, inflation

Flush with cash after bumper earnings, mining companies straddle a delicate balancing act as they benefit from soaring commodity prices amid the Ukraine-Russia crisis but also potentially face high inflation that could hit short-term demand and slow down growth plans, analysts said. The world’s largest listed miners, including BHP Group, Anglo American and Glencore are sitting on huge piles of cash after skyrocketing prices for copper, iron ore, coal, nickel and other resources buoyed profits. High metals prices have so far outpaced inflation, which, partly driven by pandemic-related supply bottlenecks and tightening labour markets, is a thorn in the side of mining giants because it pushes costs up.

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