John O. Marsden: An interview with the 2014 SME President
Mining Engineering, 2014, Vol. 66, No. 3, pp. 30-30
What do you consider to be the major challenges facing the mining industry during the next couple of years?
We have lived through a period of strong metal pricing during the past eight to 10 years. Copper has been hovering in the range of $3-$4/lb during much of the past eight years, averaging close to $3.30/lb. Gold increased steadily from less than $300/oz levels in the early 2000s, reaching almost $1,890/oz in the third quarter of 2011, before tempering back down to the $1,200-1,400/oz range in 2013. Iron ore prices started to rise in 2005 before the staggering increases experienced in 2008-2010, reaching almost $190/metric ton in early 2011. During the past four years, iron ore prices have ranged from $100-180/t, averaging approximately $140/t.
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