Santacruz Silver Mining reports fatality at Tres Amigos mine in Bolivia
Tres Amigos mine, a part of the Caballo Blanco Group of mines, has resumed operations after it was shut down following the incident.
North America will head global energy investments this year, driven by boom in unconventional production, with a $392 billion on upstream capital and operating expenditures in the region, say global consultants from IHS.
In the report published today, HIS says that Capex alone is expected to reach US$274 billion in 2012, driven by the region’s boom in unconventional production including oil sands, tight oil, shale gas, tight gas and coal bed methane, which are forecast to account for US$128 billion of this year’s total.
“Driven by continued investment in unconventional resources, total North America spending is expected to reach US$528-billion in 2016,” the paper says.
Capital spending in the oil sands market segment is expected to increase 28% in 2012 to US$18.5 billion and further to US$28 billion by 2016, as high oil prices spurs expansion plans.
Total global spend on energy is expected to reach US$1.23 trillion this year to grow even higher by 2016 up to US$1.64 trillion.
“The brief lull in expenditures in 2009 and 2010 caused by the Great Recession is behind us. Robust oil prices and the growth of North American unconventional gas—which already accounts for $128 billion in 2012 spending—will create new high water marks for investment in CAPEX and OPEX that surpass pre-recession highs,” said David Hobbs, IHS Chief Energy Strategist. “Understanding where spending is headed will be critical for both buyers and sellers in the supply chain to meet market needs.”
Asia-Pacific to shine
The Asia-Pacific region will be the second major recipient of energy investments this year, says the report, ahead of traditional energy centres, such as Middle East and Latin America.
Asia-Pacific will attract $238 billion in total upstream spending during 2012, thanks to major offshore developments in Australia.
IHS says the Middle East will be one of the main growth regions in terms of total spending going forward, with CAPEX set to rise by nearly 80% from 2011 to 2016, lead by increased drilling activities in Saudi Arabia and Iraq.
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