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IND: Commodities Buzz: Spain Mining Society Estimates Price Of Copper Between $ 3.6-$4.0 per pound
 
The president of the National Mining Society (SONAMI) Spain, Alberto Salas, estimated that by 2012 the price of copper will be between $ 3.6 and U.S. $ 4.0 per pound and domestic mining will grow by around 7%, copper production with close to 5.7 million tons and mining exports by about U.S. $ 53,000 million.
But the climate of uncertainty that is evident in the global economy next year, market conditions are seen for the mining industry strong, he said. The union president estimated that the folder sector investment for the period 2011-2018 is U.S. $ 80,000 million. The mining boom will allow us to maintain our global leadership, said the manager.
Salas estimated that this year will see a drop in mining GDP around 2%, which is explained by lower ore grades, difficult weather in the north of the country, as well as technical problems in some companies mining and strikes that have hit major mining companies. Similarly, exports projected SONAMI for this year by an amount close to U.S. $ 52,000 million and a contribution to fiscal financing around U.S. $ 12,000 million, which includes both Codelco surplus as the taxation of private mining.
As for the large folder of the mining sector investment by 2018, Alberto Salas noted that the amount of investment will also generate some 80,000 new direct jobs in the industry professionals, technicians and operators.
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