The Globe and Mail reports in its Saturday, Nov. 28, edition that there is no sign the rout in raw materials will let up any time soon. The Globe's Ian McGugan and Rachelle Younglai write that many miners see no reason to cut production despite obvious gluts. Major producers in some sectors are now following a Saudi Arabia-like strategy of producing at full capacity, with the goal of driving out higher-cost operators. Lundin Mining chief executive officer Paul Conibear says: "If you suspend a project, the costs are huge. ... The repercussions to everyone would be far worse than finishing the project." For all those reasons, most miners see logical reasons to keep on producing in volume. All the individually rational decisions result in a collectively irrational dedication to maintaining output despite miserable prices. Russian diamond giant, Alrosa, which is churning out precious stones at a frantic pace, provides a great example of this confounding trend. Lucara Diamond CEO William Lamb says: "They (Alrosa) really don't care that diamond prices are going down in U.S.-dollar terms, because the ruble has fallen by half over the past year or so. ... In ruble terms, it still makes sense to increase output."