Posts Tagged ‘budgets’
Latin American mining recorded a real investment boom that has made this sector, with the renewable energy and wind power, in one of the most attractive for foreign investors. Hand in hand with the growing demand for commodities from emerging economies, especially China and India, Latin America remained the world’s leading destination for investments in mineral exploration in 2010 and is expected to total investment in projects economic segment of the region meet in the period 2009-2015 more than 250,000 million dollars. In global terms, and only in major mining countries in the region, current projects require an investment of 37,000 million dollars over the next two years.
Although traditional mining (excluding oil), contrary to what happens in renewable, where the presence of Spanish companies is large, technologically leading and increasingly intense in Latin America, Spain lacks vigorous groups and significant international focus, the situation generates large indirect investment opportunities for our firms. Especially for companies in engineering, infrastructure and supply of equipment, which can become suppliers of new mining technologies most dynamic countries, for which the mining sector is key (Chile, Brazil, Peru, Colombia), need to optimize facilities and undertake the development of new centers.
The latest data from industry worldwide, announced by Metals Economics Group (MEG) in its Global Exploration Trends 2011, indicate that Latin America, led by Mexico, Peru, Chile, Brazil and Argentina, consolidated in 2010 as the destination of leadership planned mining exploration spending than any other region of the world has been able to snatch in two decades, since 1994.
The MEG report highlights that in 2010 there was a 45% surge in investment in nonferrous mineral exploration, in response to rising metal prices and greater market stability. Thus, the investment amount for such mining of minerals amounted to 11,200 million dollars, a figure which rises to 12,100 million if the items are also accounted dedicated to search for uranium. Thus, the industry sector last year recovered nearly two thirds of the 5,500 million dollars in exploration that were cut in 2009 by the global financial crisis, and approached a record reached in exploration spending in 2008: 13,200 million dollars. In 2010, gold was the main focus of exploration worldwide, with over half the total budget and copper was second. Read the rest of this entry »