Only four metals, or element groups, made the list for the American Physical Society, Materials Research Society and the US Department of Energy's uncatalogued for 'critical metals': Rare Earth elements, platinum group metals, lithium and cobalt.
In 2001 and 2002 miners were producing gold for sub-$180 cash costs - the operational cost of the mine divided by the ounces of production. Data from GFMS shows world gold production costs for the first half of 2009 averaged $457/oz.
All through human evolution we have been harnessing increasingly effective forms of energy. From human power to horse power, to wood, coal, natural gas and uranium what we’ve been doing is searching for the highest energy density to make energy production more efficient.
Nickel is present in over 3000 different alloys that are used in over 300,000 products for consumer, industrial, military, transport/aerospace, marine and architectural applications.
Copper mining has become an especially capital intensive industry - the average capital intensity for a new copper mine in 2000 was between US$4,000 - 5,000 to build the capacity to produce a tonne of copper.
Prospectors are today still scouring the bush, in remote, and not so remote places – chasing the rainbow and its pot of gold - looking for the next discovery. Alaska, Yukon and British Columbia are still vast and under explored places.
