Metals to be in demand again
The metals market will be once again in demand by the start of 2010 according to Marius Kloppers, chairman of the raw materials giant BHP Billiton.The dates for bauma 2010 fall precisely within this period of resurgence, so important, global impetus is expected from this trade fair.
"The good news," said Jens Nagel, MD of the German wholesale, foreign trade and service sector association, "is that we have reached the bottom of the cycle and things are now on the way back up."
The President of the German Federal Institute for Geosciences and Natural Resources, Hans-Joachim Kümpel, sees an "acute demand for research and development work. We have to investigate new reserves of energy resources and develop innovative technologies for exploring and exploiting the new deposits." From a geological point of view, the global availability of natural gas, coal and uranium are not endangered for the foreseeable future, even if demand rises. Kümpel points to the overriding importance of coal, calling for climate-friendly ways of using this fuel.
India, the partner country of bauma in 2010, is seeking to attract more private investors to the country through its new mining policy. Currently the government is reforming its legislation relating to mining. The Indian minister for mines, BK Handique, hopes to be able to raise the proportion of mining in gross domestic product (GDP) from the current 2% to 5%; the minimum he expects is 4%.
India still lags behind many other countries rich in raw materials in terms of its exploitation of its resources. According to the Federation of Indian Mineral Industries mineral deposits have only been explored in 2.3% of the territory.