The collapse in global iron ore prices isn’t chasing Gina Rinehart away from the red soil of Western Australia that made her a billionaire. Like producers in Brazil and some in China, she can still profit from the metal.
Iron ore prices and shipping costs fell to the lowest levels in five years amid signs China’s slowing growth is sapping demand for cargoes just as the world’s largest mining companies press on with raising output and spur a glut.
Prices for rare earths and some rare earth mining stocks are showing positive price action following China's crackdown on illegal mines. But is this the beginning of a sustained recovery, or just a temporary blip on the screen?
Self-help manuals tell us that what we focus on, we manifest. This is certainly true for rare earth elements enthusiast Chris Berry. Where some see a spiraling global economy and stagnation, Berry sees an emerging world with four billion people hungry for new technologies .
China owns less than 1% of the world’s chrome reserves. However, thanks to strong growth in stainless steel demand and relatively cheap production costs, China has overtaken South Africa in the first half of 2012 to become the world’s largest ferrochrome producer.
Solar, wind, natural gas and any source of energy you can think of don't hold a candle to coal. It isn't called King Coal for nothing...and it will not be dethroned. From 2001 global consumption of coal rose an astonishing 56%. Consumption in Asia and developing nations is driving the growth.
The US needs to figure out who its friends are and work with them to establish security of supply. The country’s politicians, and its citizens, also need to figure out that true wealth, a growing economy and a strong country are built by resource extraction and manufacturing.