On Monday, NationalMiningAssociation (NMA) president and CEO Hal Quinn commented on the positive outlook for theUScoal and mineralsmining. He said that "The outlook forUScoal and mineralsminingin 2013 is positive due to clear improvements in key sectors of theUSeconomy and the global demand for mined products, particularly in developing economies. While we see continued slow growth in the overallUSGDP and another slight contraction in Europe, projected increases in domestic new-home construction and automobile sales forecast to reach 15.3 million in 2013 are buoying demand for copper, palladium, molybdenum and other metals that are vital to these sectors."
He added that "Iron oreproductionwill benefit from infrastructure projects and stimulus spending inChina, the world's biggest buyer and the purchaser of 40 percent of worldwideproductionof all base metals."
As for coal, Quinn said that "Demand for coal in Europe has increased--particularly in Germany and Britain--in response to higher gas prices. Demand for coal throughout Asia for electricity and steelproductioncontributes to a robustUScoal export forecast of 111 million tons in 2013.
"Longer-term, NMA expectsUScoal to benefit from recent and planned construction of higher efficiency coal-based power plants with higher output rates and lower emissions. The remaining coal fleet will, on average, be larger, more efficient and run at higher capacity--recovering at least 100 million tons ofUScoalproductionlost to retirements of older plants."