Thursday, March 05, 2009
Some nations grabbing cheap mineral resources
A report in Fortis Metals Monthly by the VM Group predicts the mining industry will invest $50 billion less in 2009 than expected prior to the recession. They expect the same amount to be cut from 2010 budgets as well. They predict this will effect production and new supplies, and lead to another price boom for metals with a decade.
All this opens the door for forward-thinking countries to acquire strategic mineral resources at low prices, either purchasing them outright or providing financing for national companies. [right, US reliance on imported minerals. USGS Mineral Commodities Summary, 2009]
So, what are the chances that the U.S. will lose ground with strategic and critical minerals?
at 7:35 PM