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Suppliers of minerals – miners and explorers The mining industry exists to meet the mineral requirements of consumers and, in so doing, make profits for shareholders. Although not on the scale of the oil and gas industries, the mining industry is, nevertheless, a very large industry. The enterprise value1 of the global mining industry in 2010 is estimated to have been around Market Cap $bn 190 92 90 51 39 34 32 32 29 26 20 18 17 16 16 13 13 11 9 9 US$2100 billion (Citi, 2011a). London lies right at the heart of this industry, and is host to the headquarters of several of the world’s largest mining companies.

And Erdmann, L. (2012) Will metal scarcity impede routine industrial use. MRS Bulletin, 37, 325–331. , Chandler, C. et al. (2012) Methodology of metal criticality. Environmental Science and Technology 46 1063–1070. , Drielsmann, R. and Ven den Broeck, K. (2012) Availability of metals and materials. In: Precious Materials Handbook (Hanau-Wolfgang, Germany: Umicore AG Co. K. (1956) Nuclear energy and the fossil fuels. Presentation at the Spring Meeting of the Southern District, American Petroleum Institute, San Antonio, Texas, March 1956.

Goldschmidt Conference Abstracts 2009. S. Department of Energy (2010) Critical Materials Strategy. Washington, DC. S. Department of Energy (2011) Critical Materials Strategy. Washington, DC. USGS. (2002) Rare Earth Elements – Critical Resources for High Technology. S. Geological Survey Fact Sheet 087-02. USGS. (2010) Mineral Commodity Summaries 2010. USGS. (2011) Mineral Commodity Summaries: Copper. 2. The mining industry and the supply of critical minerals D AV I D H U M P H R E Y S Independent Consultant, London, UK Mineral products are bought for their utility, this utility being reflected in the price which consumers are prepared to pay for them.

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