MINING FOR OPTIMISM WITH SP ANGEL
about this for years . People ignored us and got starry-eyed . They hoped if they had the resources to produce a million ounces of gold someone would come along and buy them for it . Now they realise only half a million ounces of that gold could be economic . Across the whole spectrum of the industry companies are better targeting their exploration using remote sensors , geo-physical methods and an increased use of drones for various surveys which can cut costs enormously . So , if they focus their efforts they can make very good money rather than risk a loss-making operation .”
The mining industry is constantly evolving and Meyer has a few pointers as to where it ’ s headed . He concludes : “ Mining has diversified to produce a broader range of materials which are more technology focused to support the industries of tomorrow and developments in material science . We ’ re working with many entrepreneurs in this area . I think there ’ ll be much more focus on rare earth metals going forwards . The strategic nature of certain metals is an area to watch as China is restricting the export of some materials – particularly in stress situations .
“ The EU developed a list of strategic metals as did the Americans . In fact , stockpiles of these metals are not what they used to be during the Cold War . A lot of that stock was sold down over 30 years and it ’ s quite possible governments might try to re-build strategic stocks of critical raw materials in future .”
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