Copper mining has become an especially capital intensive industry – the average capital intensity for a new copper mine in 2000 was between US$4,000-$5,000 to build the capacity to produce a tonne of copper, now capital intensity is north of $10,000/t.
Just when we need it the most the mining industry is starting to suffer a massive loss of accumulated wisdom, knowledge and field experience. This loss of experience, when combined with labor shortages, means future mineral output will be constrained.
This year's Hard Assets Conference was as big as they come. It always brings a ton of mining experts to the city. Enough time has passed for the information discussed there to be actionable, so now it's time to review the show.
Advances in energy and agriculture are creating demand for previously ignored metals such as scandium, tellurium and indium. The mining analyst and editor of Kaiser Research Online, explains the science behind some overlooked stocks.
Accessing a sustainable, and secure, supply of raw materials is going to become the number one priority for all countries. First rights of access to internally produced commodities and such privileged access from other countries will be sought.
A popular headline figure quantifying the U.S. payoff from globalisation at $1 trillion per year has been criticised by Dani Rodrik and other sceptics. Here is an explanation and defence of the Peterson Institute's big number.