Video: Major Changes in the Metals and Mining Industry
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NYSSA's 12th Annual Metals and Mining Industry Conference featured a number of speakers from top business leaders. Raymond Goldie, PhD, VP, and senior mining analyst at Salman Partners, opened the conference with an industry overview.
HERE ARE FOUR MAJOR CHANGES CURRENTLY SHAPING THE METALS AND MINING INDUSTRY:
- Metals and mining producers are becoming fewer and larger.
As businesses concentrate, the more profitable they become. A game-changer was Potash Corporation's philosophy that price was the biggest determinant of profitiblity, not volume or market share.
- The word "global" doesn't really live up to its name.
The West is the only part of the world with reliable statistics for consumption and inventories. In the former Eastern Bloc, this information is either unreliable or nonexistant.
- Since 2003, China has become increasingly concerned about clean energy.
The country recently shut down dirty zinc mines and smelts and now must import their zinc supply. Similar actions have been taken for other types of mines.
- Many of today's stories that focus on China will, in a decade or so, focus on India.
As more young upwardly mobile people from India enter the workforce, this demographic will continue to grow at a higher rate than that of China.