He takes his vacation without regard to the company's needs. They will just delay release until he comes back and reviews it. Teck will wait too. They like the delays. They are looking at the down ward pressure on Jr deposit holders and smiling. They also like the slide in costs as other majors are not spending either. It does effect capex! All the people claiming capex's will rise over the next 5 years are not seeing the big picture. The price of a shovel goes up with metal prices and in our case that means copper goes up too. However, demand is going to drop for a while. What you see in the charts is money printing. Labour is not going to skyrocket. It's going to stay flat in developed countries. You're only seeing third world violence for wages because those people are being robbed.
What will happen is there will be some appreciation in capex as they develope over here but the lag time for wage pressure will not effect us. A shovel from china cast the same everywhere once you convert the dollar. Some places do have higher taxes on that shovel but that has little effect on us. BC has set itself as the place to mine and this has been acknowledged but Austrailia. Also, when you shut down in the third world it does effect your profit margins but not that much. Glencore robs Africa buy selling copper to its safe haven branch which in turn sells it to the open markets at market price. Shutting down there removes the middle man profits they steal but it doesn't shut the company down.
