Freeport Indonesia to process 400,000t of copper concentrate at new smelter
Earlier this month, Freeport obtained an export permit for the rest of the year from the government.
The real value added to the US economy by the mining, construction and manufacturing sectors spiked in the first quarter of 2017, in what is considered another clear sign of a reversal of fortunes in an industry that suffered in previous years from a sustained rout in commodities prices.
Real value added to the US economy by the mining sector jumped over 21% in Q1 — the largest increase since late 2014.
According to the latest data released by the Bureau of Economic Analysis, the US economy grew overall at an annual pace of just 1.4% in the first quarter. But the value added by the mining sector increased by a stunning annual rate of 21.6%, while construction and manufacturing also contributed significantly — 5.6% and 4.7% respectively.
“The first quarter growth primarily reflected increases in oil and gas extraction, as well as support activities for mining. This was the largest increase since the fourth quarter of 2014,” the report says.
The value brought by the agriculture, forestry, fishing and hunting, in contrast, dropped almost 40%. Among other industries that also declined during the quarter, according to the BEA data, were financial and insurance (-2.1%); utilities (-6.4%); retail trade (-3.6%); and arts, entertainment, recreation, accommodation, and food services (-0.9%).
5 Comments
Earthworks
What is metal mining’s contributions alone?
RockRabbit
About time! We have been seeing little glimmers of light, like CAT selling the most since 2014. Zinc and gold appear to be the best drivers in the metals market and more investment in lithium and other rare earths is happening. Try to get an exploration drill rig and you will be disappointed, as almost everyone is out there working. I remain cautiously optimistic.
OpenTrackRacer
So what exactly does this have to do with Trump???
The Tool
See if there is anything about it in this story. http://www.mining.com/epa-to-scrap-obama-era-rule-limiting-water-pollution-from-coal-fired-power-plants/?utm_source=digest-en-au-170816&utm_medium=email&utm_campaign=digest
PRINCE A D GAISIE
Gold Price is a sine curve it goes up and comes down .All the developments of mobiles and their company profits rising beyond reasoning are all due to mining as the parts that make them are from mining . We have the price of Gold rising consistently this years and gold melts at 1600°Celsius so it use in different systems is a plus for the mining industry .Lithium and Iron have been rising since this year began.