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Man holds empty wallet
Man holds empty wallet
(Comstock/Getty Images/Comstock Images)

Grim snapshot of miners’ dire financing options

Just how bad is it for miners trying to raise money?

SNL Metals Economics Group calculates a proprietary index that tracks the value of mining financing around the world, and its latest reading came in lower than the worst days of 2008 at the height of the financial crisis. Only 49 significant financings – raising at least $2-million (U.S.) – were completed in May and June, the lowest two-month total since SNL started tracking financings in early 2008.