Outlook Forecasts 2018 Spending Jump for North American Metals & Minerals
Spending on Metals & Minerals projects in North America will rise 9.67% this year from 2017, according to Industrial Info’s 2018 Global Industrial Outlook.
Joseph Govreau, Industrial Info's vice president of research for the Metals & Minerals Industry, said the jump in project expenditures can be linked to the improved economy, improvements in commodity price/demand fundamentals, tax reform and regulatory reform.
“All of these issues are helping to boost capital spending in 2018 and 2019,” Govreau said.
As an example, global copper, gold and molybdenum miner Freeport-McMoRan Incorporated (NYSE:FCX) (Phoenix, Arizona) said last week it plans to boost capital expenditures in 2018 by 50% from last year, with an emphasis on major projects in the U.S. and Indonesia. For more information, see January 30, 2018, article - Freeport-McMoRan to Boost Capex 50% in 2018.
The North American Spending Forecast for Metals & Minerals in 2018 is part of Industrial Info’s 2018 Global Industrial Outlook, which covers industries ranging from Power to Pharmaceutical and Biotech.
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