CURRENT TRENDS IN MINING

Two words dominate current discussions about the supply and demand of minerals: globalization and supercycle. Globalization’s application is much wider than mining, although a shrinking world has profoundly impacted the mining industry. Supercycle has recently come into use because rapidly industrializing, less-developed countries have stimulated minerals demand. Fifty years ago the mining industry was dominated by local companies supplying single products to local customers. High transportation costs, poor communications technology, and a lack of companies that had the capability to invest outside their national boundaries led to an industry dominated by small producers operating on either a local or national scale.