THE DRIFT OF THINGS
EDITORIAL STAFF
Editor
Tim O’Neil
Senior Editor
Steve Kral
Associate Editors
Georgene Renner
William R. Yernberg
BUSINESS STAFF
Media Manager
Johanna McGinnis
Phone 1–800–763–3132 or 303–973–9550
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SOCIETY FOR MINING,
METALLURGY, AND EXPLORATION,
INC. OFFICERS
President
Tom O’Neil
President-Elect
Arthur A. Schweizer
Past President
Michael Karmis
Acting Executive Director
John Orologio
Mining Engineering Committee
Terry J. Laverty (Chair), Duane L.
Whiting (Vice Chair), Barbara J. Arnold,
Frederick B. Henderson III, James C.
Norman, Gultekin Savci, Patrick R.
Taylor, Stephen R. Tibbals, Michael A.
Trevits, Anthony Filyk, Terry L. Downing,
Amy E. James and Tony R. Henderson
Jr.
C
oal production is expected
to reach 1.02 Gt (1.12 bil-
lion st) in 2004, the second
highest total on record. Coal con-
sumption will hit an all-time high
of 1.05 Gt (1.16 billion st).
The projected 2004 production
total would be 3.5 percent higher
than 2003 and second only to the
record 1.03 Gt (1.13 billion st) pro-
duced in 2001.
One reason for the optimistic
coal outlook for 2004 is a likely 4
percent rise in economic growth,
according to the National Mining
Association (NMA). Much of the
growth is expected to be in the
manufacturing sector and in re-
gions of the country that depend
more on coal-based electricity.
Total use of coal, including coal
for exports, will reach 1.05 Gt (1.16
billion st), according to NMA. That
would be 11.8 Mt (13 million st)
higher than the previous record of
1.03 Gt (1.14 billion st) that oc-
curred in 2000.
Coal production levels are
driven by demand for coal to gen-
erate electricity. Electricity genera-
tors are expected to use 0.93 Gt
(1.02 billion st) of coal in 2004 to
produce approximately 52.5 per-
cent of the electricity that is made
available for sale through the grid,
according to NMA.
Coal use for electricity is ex-
pected to be 2.3 percent more in
2004 than in 2003.
The construction machinery
manufacturing industry expects
2004 growth in the 3 to 5 percent
range.
The Association of Equipment
Manufacturers (AEM) expects
2004 construction equipment busi-
ness to grow 5.5 percent in the
United States and 3.7 percent in
Canada.
For the rest of the world, AEM
forecasts a 3.4 percent increase in
the construction equipment busi-
ness.
2004 coal production, use to be up
Growth seen for construction machines
Russia will publish some PGM data
AEM groups construction
equipment into seven product cat-
egories: earthmoving, lifting, bitu-
minous, concrete and aggregate,
light equipment, attachments and
components, and miscellaneous
equipment.
Of the seven product catego-
ries, sales of earthmoving machin-
ery are anticipated to be strongest
in 2004. AEM forecasts increases
of 7.2 percent for the United States,
6.5 percent for Canada and 5.2 per-
cent for other worldwide markets.
The earthmoving segment in-
cludes excavators, loaders, tren-
chers, off-highway haulers, tractors,
scrapers and graders.
The Russian government pub-
lished a new law allowing disclo-
sure of platinum group metals data.
The law, ratified by President
Vladimir Putin, will allow the pub-
lication of data on platinum group
metal stocks, production and trade
in the private sector, but not stocks
held by the government.
Russian production levels have
long been clouded due to secrecy
laws.
Russia will acount for about 30
percent of the 386.6 t (12.43 million
oz) of platinum group metals pro-
duced worldwide in 2003.
The Canadian Institute of Min-
ing, Metallurgy and Petroleum
(CIM) has adoped best-practice
guidelines for the estimation of
mineral resources and reserves.
The report is divided into gen-
eral guidelines applicable to metal-
liferous deposits and guidelines
specific to particular commodities.
The report is entitled, Estima-
tion of Mineral Resources and Min-
eral Reserves Best Practice
Guidelines. It is available on the
CIM Web site at www.cim.org/com-
mittees/estimation2003.pdf.
Tim O’Neil, Editor
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