Fundamentals 'returning to the fore' in mining, says Mining Capital's Alastair Ford

Apr 25, 2017, 12:20 PM

Mining Capital's Alastair Ford tells Proactive the FTSE miners have taken a bit of a battering over the past few weeks.

''Rio Tinto’s (LON:RIO) shares are now hovering at just over 3,000p, down from a three year high of 3,691.5p hit in mid-February, BHP Billiton’s shares are down from a January 12-month high of 1,477.5p to a current 1,185p, Glencore’s shares are down from a mid-March 12 month high of 341p to the current 295p, and Anglo American’s (LON:AAL) shares are off from mid-February high of 1,416p to the current 1,114p''

Ford adds that the strength in Sterling following Theresa May’s decision to hold an early election this year has weakened the investment proposition of the FTSE miners even further as they are priced in pounds but book revenues and incur costs primarily in dollars.