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The mining industry is estimated to possess raw materials for a maximum period of 20 years. Another example is platinum, subject again to Cohen's theory, that declares that 90% of world reserves are concentrated in only one location - Bushveld complex in South Africa, so new discoveries and possible manufacturing changes are virtually impossible. Also the article stipulates that on average the platinum and gold mines have a depth of 4 kilometers, while in South Africa the depth is only 2 kilometers. This is clear evidence that producers do not have the motivation to continue the investments for exploring purposes, due to the profit maximization purposes.
Another element of discussion around the specialist and academic world is the rapidity of the total mineral resources reduction. For example, a pessimistic view states that world resources will be enough only for another 15 years (Cawthorn, 2007). Other specialist claim that at least 60 years the platinum would still represent a commodity, since the expansion...
The Platinum Review in 2007 states that by taking into account only the registered deposits of platinum, and the current growth consumption rate, the reserves would last for another 60 years. So there are important differences among the estimations in the mineral field. The environmentalist restrictions that are aimed at reducing the pollution levels - would also limit the consumption level of the mineral resources.
Bibliography
1) Grant Cawthorn -Resource restrictions - New Scientist - Johannesburg, South Africa, 27th of October 2007
2) Charlie Pye-Smith - Biodiversity: a new perspective, New Scientist, 10th of December 2005
3) Governmental information program
http://minerals.usgs.gov- information retrieved on 12th of October
4) Natural resources forum www.natural-resources.org/mineralsinformation retrieved on 12th of October
Bibliography
1) Grant Cawthorn -Resource restrictions - New Scientist - Johannesburg, South Africa, 27th of October 2007
2) Charlie Pye-Smith - Biodiversity: a new perspective, New Scientist, 10th of December 2005
3) Governmental information program
http://minerals.usgs.gov- information retrieved on 12th of October
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