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Bumpy ride expected in 2012 |
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This time last year, it seemed like the industrial mineral market was steadily recovering from the 2008 financial crisis and was hitting an up-cycle. But the Arab Spring (including the war in Libya), the Japanese earthquake and the European debt crisis put an end to that.
And continuing protests in Russia, Syria, Kazakhstan and Nigeria (among other countries) are adding to geopolitical risk, while Iran's upping of military rhetoric over its nuclear facilities and a change of leader in the rogue state of North Korea also inches the Doomsday clock closer to midnight.
But even without unexpected shocks to the global economy, the indicators are pointing towards a volatile 2012. With no fix for the EU in sight and growing uncertainty in Chinese economy – the world's largest...