Latin America will benefit from having “more firepower” than other regions, as strong international reserves are already helping those countries face commodity price collapses, said Lisa Schineller, Standard & Poor's economist.
Even with significant ore bodies coming on stream from 2015 onwards in Brazil (Anglo’s Minas Rio and Vale’s Serra Sul), Australia will be able to keep its crown in this commodity kingdom thanks to Rio, say analysts.
While miners that already hold licenses will be allowed to keep working in the area, the authority emphasized that those permits will not be renewed once they expire.
He’s known as the most successful mining explorationist of the past century, having discovered 17 ore bodies, including the world’s largest copper mine