2015 hasn’t been a great year for mining companies. Metal priceshave been on a slide through pretty much most of the year and theresult was a general malaise in their equity values. But there may besigns of positive moves this year – in some areas at least.Across 2015, the four biggest fallers in the FTSE 100-share indexwere all miners – Anglo American (down 75%), Glencore (down 71%),BHP Billiton (down 48%) and Antofagasta (down 41%). There areothers, of course, and the cumulative effect, given the heavyweighting in the index of resource stocks, has been that the 100 hasunderperformed both its 250-share sibling (which is much lessdependent upon resources) and the major US indices. It’s a sadpicture and a telling demonstration of how the investment world hasfallen out of love with the resource industry.
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