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The commodity super-cycle which began in the early part of the 2000’s is most definitely over. Signs of its demise were evident in 2013 and steadily falling commodity prices and mine closures since that time have confirmed it. Iron ore, coal and oil have been the most prominent minerals in terms of the decline in price and are certainly the most talked about, but few if any mineral commodities have been untouched. What does this mean for the mining industry in the year ahead?
The retreat of mineral commodity prices from their super-cycle peaks quickly saw the closure of high cost operations where lower grades, complex treatment routes and long logistics chains locked in a high cost base such that these operations could only ever be “swing producers”, viable only during peaks in commodity prices.
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