Historical Mineral Production and Price Trends

Most minerals have experienced a slow hut perceptible decline in their annual primary production growth over the past hundred years. This decline is due to a combination of factors: (1) increased recycling; (2) exhaustion of the more accessible or higher grade ores; (3) partial substitution; (4) the more efficient use of materials; (5) progressive saturation of markets as living standards rise. Therefore, future demand for new mineral resources will probably be lower than anticipated. As the world population stabilizes, this slowdown in production growth will become even more pronounced.