I've heard these commodity companies execs sounding off this way for a half decade. These are the survivors of the commodity bear market, and their mentality shows it. The bulls (like Pierre Lassande) are scarce in this industry.
Sure they will develop new mines. Maybe a half dozen projects that are late stage can get done in 2-3 years. Then let's see, hardly any exploration for years, so two or three years fast pace for that. Then another two years to plan and develop big mines, that is if you can find the steel, energy and input goods. What about in the meantime, have Easy Al print copper, nickel and tin? And have China "manage" a slow down. And a slowdown, what would that do, instead of 1,250,000 MT copper deficits, 900,000 MT?, 750,000 MT? LOL.
China? It's not Chile, Peru, Mexico, or Zaire (maybe they could send an army there and stand guard?). It's the land of low grade crap, they will need sky high prices to remotely justify major mining. Ever wonder why there's little there now? It's not really mining country. |
