DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/32d7fa/united_states_mini) has announced the addition of the "United States Mining Report 2011" report to their offering.
Unlike many developed world countries, the US still maintains a sizeable mining sector, with an estimated value of US$322bn in 2010. The US remains rich in deposits of many minerals and metals, including coal, copper, gold, lead, molybdenum, silver, uranium and zinc, among others.
Given the size of the country's remaining natural resources, coupled with the fact that global markets now seem to be firmly in recovery mode, the outlook should be bright for the extractive sector of US mining over the coming five years. BMI foresees an increase in the total value of the US mining sector to US$523bn by 2015, with significant new projects planned for the key copper, gold and uranium sectors.
Of particular note is the Twin Metals project being developed in Minnesota by Antofagasta and Duluth Metals, as well as the Pebble Mine being developed in Alaska by an Anglo American/Northern Dynasty Minerals joint venture (JV), although these two projects both remain in the exploration stage at present. The country's biggest copper miner, Freeport-McMoran Copper & Gold, also has extensive expansion plans under way at its Morenci mine in Arizona (aimed at increasing copper production by approximately 125mn lbs per year) and is also planning to reopen its Chino copper mine in New Mexico. Both of these mines should add an estimated 150ktpa (thousands tonnes per annum) to US copper production from 2014 onwards, which has been reflected in the copper production forecasts. In addition, Romarco Minerals has completed a feasability study on its Haile gold project, which is likely to produce some 150,000oz per annum over its first five years of operation and in late 2010 Texas-based Uranium Energy Corporation announced the start of production at its Palanga project, the first new uranium mine opening in the US in five years.
With so many new mining projects scheduled to come on-stream, an increase in the contribution of the mining sector to overall US GDP, from 2.33% in 2011 to 2.81% by 2015 is forecast. The resultant increase in production and GDP will also result in an increase in employment within the sector - which will be a boon to a country still struggling to some extent through a jobless recovery' at the present time. US top of our Business Environment Rankings for 2011
The United States has moved to the top of the newly-updated Business Environment ratings for 2011, with a score of 69.2 (out of 100). This score was mostly driven by a country structure score of 79.9, the highest in the region. The US possesses one of the most investor-friendly environments in the world, with few barriers to entry in addition to a solid regulatory and legal environment. The US has a well-developed mining sector, particularly in terms of copper, lead, gold and zinc. In addition, the US looks set to be one of the countries to benefit from increased demand for non-Chinese sources of rare earths, with the development of the Mountain Pass rare-earth mine in California. The planned Twin Metals and Pebble Mine projects also have the capacity to increase wider US output of metals significantly later in this decade.
Key Topics Covered:
Global Mining Outlook
Long-Term Political Outlook
Global Assumptions, Q311
- Freeport-McMoran Copper & Gold
- Newmont Mining
- Peabody Energy
For more information visit http://www.researchandmarkets.com/research/32d7fa/united_states_mini