Mineral producers are generally optimistic about prospects for 2010, but after the severe economic collapse of late 2008 and 2009, there is little room for things get worse.
Profits plunged across the board in every sector of industrial minerals in 2009 and producers resorted to production cutbacks, plant mothballing and job cuts to survive.
French group Imerys SA, which produces a wide range of industrial minerals, said the second half of 2009 heralded an improvement – albeit a slow one – in end markets, which have been depressed since the start of the downturn in November 2008.
"The unprecedented scope of the economic crisis the world has been going through since late 2008 led us to take difficult measures to adapt our production assets to the collapse of our sales volumes,” said Imerys chief executive officer Gérard Buffière.
The company...