Vale Q2 iron ore output up 2.4% from a year earlier
The company reported output of 80.6 million metric tons for the steel-making ingredient in the three-month period ended in June.
The international resource sector faces rough waters ahead according to an industry insider who has just completed a round-the-world tour of key mining regions.
Jack Caldwell writes on his blog that a close colleague has just completed a global sojourn spent visiting mines and meeting with industry executives and consultants. The chief conclusion drawn from his travels? That the “mining boom is bust.”
According to Caldwell’s informant consultants are now light on work, with many already commencing retrenchments and rumors doing the rounds in Vancouver that a major international company is on the verge of unveiling fresh layoffs.
The short-term outlook is bleak, with 2013 mining budgets expected to see severe cuts. Operating costs continue to rise, trimming dividends and unsettling shareholders. According to one executive the problems the industry currently confronts are “tough and unforgiving.”
Yet there remains a silver lining to the tenebrous storm, with a vast amount of potential demand in developing economies still waiting to be unleashed. Demand should pick up once emerging nations start to catch up to developed economies and their indigent millions pursue an improved quality of life, the way that China has over the past few decades.
According to Caldwell, “there is still great demand for specialists, the skilled, the experienced, and those who can produce much fast and at low cost.”
The mining veteran advises those now entering the industry and cultivating their skill set to stick it out, as well as “take the tough jobs with fast experience returns, go where the work is rather than stay at home, and work more than 40 hours a week.”
Read Jack Caldwell’s blog>>
2 Comments
Wide Publishing
Like a Super Cycle ! Move from being a producer -trader to manufacturer.Integrate.
drabebeagles
Hello Jack this is Dr Abe Beagles owner of Mother Lode Mining, Inc a Nevada corporation that is mining placer gold in Panama. We have had difficulty finding investment capital in the more sophisicated investors section and for why i don’t know. Our project includes a black sand project in northern California that has up to .68 ounces of gold locked up in it and then in Panama we are using a 12″ Jet Dredge with a triple cutter head attached which is capable of 200 to 400 cu.yds. per hour. We are in the ocean on a bar that has closed the mouth of the river and when we were testing with a 4″ Keene dredge we got to the end of the hose(20′) and we were into 4Oz, per yard material. We are also using a new technology developed by Mike Walsh out of Wash. state called the High Live Excuvator System that utilizes an old high lead logging system and instead of chokers it has a 15Cu. Yd. bucket and that can move up to 700 yds. per hour. We have an average of $80. in value in per cu. yd.. We will be moving over 1,000 cubic yards per hour at a value of, Oh say $30 that means $30,000 per hour or $240,000 a day before your add in the sales of the black sand and the aggregate. We have put all of this into an IRA approved SEC Regulation D 506 PPM. With all of this we are still having difficulty raising even a half million, maybe someone can point me in the right direction to show this plan to an interested party. I can be reached at 916 240 0752 with an email of gerrybeagles at aol.com.