Metals & Mining Commodity Reports
Mine 2013 – A confidence crisis
London, 5 June 2013
Mine 2013 provides analysis on the financial performance and position of the global mining industry as represented by the Top 40 mining companies (including 6 based here in the UK) by market capitalisation. The Top 40 have forecast $110 billion in capital spending for 2013, a reduction of 21%. Projects are being deferred or scaled back. Many companies within the Top 40 have said that they are increasing project hurdle rates. Additionally, many major players have announced plans to divest what they consider to be non-core assets.
State of the Market Snapshot: Mining and Finance
London, 21 May 2013
IntierraRMG: The State of the Market: Mining and Finance Report reveals a fall in metals mining deals of 28% to under US$11.9 billion in the first quarter of 2013. In the same quarter, funds raised by the mining sector dropped to under US$5.2 billion from almost US$6.8 billion in Q4 of 2012.
International Lead and Zinc Study Group forecasts, 2013
London, 25 April 2013
The Standing Committee of the International Lead and Zinc Study Group has issued the following forecasts for 2013:
Read more: International Lead and Zinc Study Group forecasts, 2013
World Silver Survey 2013
New York, April 2013
Robust global silver investor demand was the dominant driver of silver prices last year, accounting for almost a quarter of total silver demand. Averaging $31.15 per ounce, 2012’s price level was the second highest on record, behind the average reached in 2011. While last year was a volatile year for most precious metals, globally, silver investment rose to a total of 252.7 million troy ounces (Moz). That figure represents approximately $8 billion on a net basis, substantially above the annual average of $1.2 billion over the 2001-10 timeframe, according to “World Silver Survey 2013,” released here today by the Silver Institute.
Copper Cost Analysis Report: CRU
London, 24 April 2013
CRU's latest report provides independent and rigorous analysis of the copper mining cost structure throughout the global industry, and covers the years 2007-2025. We examine how the cost structure has evolved and will evolve through these years, and we analyse the key trends in copper mining costs in all countries and regions and how they will impact different operations.
China’s steel sector restructuring should include distribution: Meps
London, 26 March 2013
China’s steel sector restructuring should not be confined to capacity reductions. An overhaul of the distribution mechanism is also needed. The current model of using traders as the main source of distributing steel has significant drawbacks. Inventories through the supply chain can become excessive. The producers of steel are one stage removed from the users of the product.
Read more: China’s steel sector restructuring should include distribution: Meps
A challenging year ahead for miners: PwC report
London, March 2013
Cautiously optimistic: After a slow and cautious 2012, mining M&A activity is expected to continue at a moderate and equally cautious pace in 2013 as metal prices stabilise and companies bet on a continued rise in commodity demand from countries such as China, according to the latest Mining Deals report by PwC. It is also expected that this year, mega-mergers will be placed on the shelf while mining companies seek to prove that they are being prudent with shareholder dollars and are able to realise positive results on significant acquisitions made in the past few years.
Mega metal deals grind down in 2013
London, 11 March 2013
All eyes in the metal industry will be on the lookout for a silver lining in the uncertain economic horizon this year as a PwC report out today predicts. Mega deals will dwindle against a surge in smaller announcements according to Forging Ahead, with CEOs holding onto their purse strings. In PwC’s annual in-depth metals M&A review and forecast, the headline trend is for a continuing recovery from a post credit-crunch low with Asia being the ‘star’ region dominating the 2012 deals market. It accounted for 68% of totals deals value, more than three times the 19% share it held in 2011.
Junior mining companies face working capital shortfall
London, 4 March 2013
A new report released today by business and financial advisers Grant Thornton has found that junior mining companies are facing a significant shortfall in working capital, posing a major concern to future growth prospects. The report, Turning high risk into high potential, found that 43% of mining companies surveyed around the world maintained cash balances of less than US$2 million and within the junior mining community, this figure rose to over half (53%).
Read more: Junior mining companies face working capital shortfall
Worldwide Exploration Trends 2013
London, 3 March 2013
SNL Metals Economics Group’s (SNL MEG) 23rd edition of Corporate Exploration Strategies (CES) calculated that the industry’s estimated total budget for nonferrous metals exploration increased to $21.5 billion in 2012. Despite ongoing uncertainty in Europe and the United States, and concerns about waning demand in China, most metals prices remained well above their long-term averages in 2012, giving varying levels of support to the industry. Led by higher budgets among the major producers, exploration budgets documented in the study increased by $3.3 billion (19%) to $20.53 billion to set a new all-time high.
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