Tom O’Neil: An Interview With the 2003 SME President

The status and outlook for mining, in your view. Minerals remain a major part of the world’s economic foundation. The fortunes of the mining industry rise and fall with general economic trends, but mining is no less important today on a global basis than it has been historically. Certainly, portions of the industry are critically depressed — domestic copper to name one area —but other sectors are prospering. Mineral consumption, both worldwide and in the United States, has increased steadily since the Great Depression, hitting all-time highs in 2000, the last year for which I have seen data. The highly developed economy in the United States tends to obscure the continuing importance of minerals here. But in less developed nations the critical nature of minerals is obvious and well accepted. In short, although there is no shortage of problems or challenges facing mining — there never has been — mining remains an essential business with great global opportunity.