PRICING AND TRADING IN METALS AND MINERALS
When assessing the feasibility of developing a mining project, assumptions need to be made about the price which the product to be mined will bring when it is sold. Indeed, it is often the case that the price of the product has a bigger influence on the outcome of the assessment than any other single variable. Because forecasting prices is not a simple matter, this is a challenge. Commodity prices are subject to significant short term volatility as well as longer-term cycles. Moreover, the challenge is compounded by the fact that the mine undergoing evaluation may have an expected life of 20 or more years and may not be scheduled to come into production for several years ahead.
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