What happens when a leading mining
company, which is majority-owned by the government and also listed on the stock
exchanges, deliberately sells its mined output year-after-year at a hefty
discount to international benchmarks? Ideally, the company’s trade practices
should come under intense scrutiny and a full-scale investigation must be
ordered to dig out the extent of loss, both to the State exchequer as well as
minority shareholders. This should be followed by a course correction and
re-pricing of mined minerals.
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