Global resources spending soars

Monday, December 20, 2010

Global spending on mining will surpass pre-crisis levels next year, according to an emerging industry consensus, highlighting rising confidence in an economic recovery led by China and other fast-growing markets.

The boom in capital expenditures, which extends to the oil, natural gas and agribusinesses, comes amid sharply rising prices for commodities such as copper, iron ore, crude oil, sugar and wheat.

The investment surge also raises the likelihood of short-term bottlenecks in the already stretched supply of equipment and services, and project delays as costs rise.

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