From the Editor - Iron Ore Miners Take the Stage
This edition also carries the annual Project Survey, which is compiled by our colleagues at Raw Material Group in Sweden. The survey lists all of the major projects in the mining pipeline. It serves as a leading indicator for the mining business. This year the Project Survey bears good news óin recent years it hasnít. Itís especially cool when the authors are surprised at how quickly the market improved. Latin America regained its position at the top of the list in 2010, attracting more than 32% of total global investment. Iron ore, copper, gold and nickel, were ranked in that order as the most important investment targets for mining companies, representing 84% of the total project pipeline. Iron ore investment surpassed copper.
As this edition was going to press, iron ore prices were starting to climb to the peak levels seen just before the financial meltdown in 2008-2009. So it may come as no surprise to see news items on Cliffs Natural Resources acquiring Consolidated Thompson or Rio Tinto expanding in the Pilbara. As global economic prospects improve, iron ore miners are gearing up for another bull run, but they are not the only miners preparing for robust demand. They are leading a pack that will probably see considerable prosperity in the years ahead. Enjoy this edition.
Steve Fiscor, Editor-in-Chief, E&MJ