United States Mining Report Q3 2013 - New Report Available

With emerging markets attracting the bulk of mining investment we see quite slow growth across mineral products in the US over our forecast period. We forecast the value of the US mining industry to reach US$66.1bn in 2017, representing an average growth rate of 1.8% per annum. We see the domestic mining sector growing at a slower pace than many developed market peers, such as Canada and Australia, but believe promising opportunities for mine development in the US still exist.

The key drivers of our industry growth forecasts will remain minerals for which global prices and fundamentals remain relatively favourable, primarily copper and gold. Though we forecast prices to fall, they will remain elevated by historical standards and should keep mining operations profitable, though profit margins at major miners will be under greater pressure. Various firms have active copper projects on the horizon in an effort to counteract several decades worth of falling ore grades in the US, though weakness in copper prices will likely temper capital expenditure. We see minimal investments into mineral resources for other base metals. Weak market fundamentals for zinc and lead will keep price gains modest in the coming years and we do not expect domestic mining companies in the US to invest much in developing these resources after production falls in 2012.

Full Report Details at
- http://www.fastmr.com/prod/617130_united_states_mining_report_q3_2013.aspx?afid=301

US To Remain Attractive Mining Destination

Despite weaker market fundamentals, we expect the US to attract mining investment due to its vast natural resources, well-developed industry and infrastructure, and stable political environment. The US's mature capital markets also allow junior firms to find financing opportunities, though credit remains tight. We expect US growth to pick up in the coming quarters, which should support end-use demand growth for metal products. The US will also remain a major exporter of mined products, particularly to emerging markets. In particular, we forecast that US exports of coal to Asian economies will increase, as the region continues to rely on coal-fired power plants for electricity generation. Although some environmental and community activists oppose further coal production, we do not see any immediate policy or regulatory threats to expanding exports beyond delayed rail and port infrastructure investment in the country's north west.

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