Managing Market Uncertainties in Project Development

In planning its production and investment activities the mining industry has generally paid too little attention to perceptive analysis of its market environment. The nature of world economic difficulties over the past decade is not a mystery. Essent- ially prolonged affluence has engendered a false sense of security and fostered entrenched vest- ed interests hostile to economic change. The overall outlook remains poor. For mining projects mineral demand affects both product prices and the availability of specific sales outlets. Long-term projection of demand is complex and a key to success is concentrating on analysis of fundamental deter- minants and avoiding mindless extrapolation.