Mining industry glimpses light at end of tunnel

The Saint ReportAggregates/Mining, Coal and Fossil Fuel, Environmental Planning, saintblog0 Comments

By Christopher Hopkins,
Senior Vice President, Aggregates and Mining, The Saint Consulting Group

The end may be in sight for part of the recession that has devastated sections of the mining industry over the past three years. Cemex and Vulcan Materials both recorded increased sales in April and are projected to have a further increase in May, according to Bloomberg Business Week.

The sales rise by two of the largest limestone producers in the United States was a result of increased housing starts and rail shipments of crushed stone. Production is expected to increase in the second half of 2010 as large portions of the $27 billion in stimulus funds authorized for highway and bridge repair comes on line.

This news comes on top of predictions that metals mining exploration will increase by as much as 40 percent in 2010. The increased spending in exploration is being driven by the stable price of gold and copper worldwide,  according to a Reuters report.

Click here for Bloomberg Business Week article.

Christopher Hopkins is senior vice president for aggregates and mining for The Saint Consulting Group, email: hopkins@tscg.biz, phone 615-656-3794

Leave a Reply

Your email address will not be published. Required fields are marked *