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Cliffs Natural Resources Inc. Message Board

  • jimjones62@rocketmail.com jimjones62 Jan 29, 2013 8:39 AM Flag

    Global outlook is positive for US coal mining, NMA says

    Global outlook is positive for US coal mining, NMA says
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    The global outlook for US coal mining is positive in 2013, according to Hal Quinn, president and ceo of the National Mining Association (NMA).

    “The outlook for US coal and minerals mining in 2013 is positive, due to clear improvements in key sectors of the US economy and the global demand for mined products, particularly in developing economies,” said Quinn.

    “While we see continued slow growth in the overall US GDP and another slight contraction in Europe, [there are] projected increases in domestic new-home construction and automobile sales are forecast to reach 15.3 million in 2013,” he added.

    “Demand for coal in Europe has increased, particularly in Germany and Britain and in response to higher gas prices. Demand for coal throughout Asia for electricity and steel production contributes to a robust US coal export forecast of 111 million tons in 2013,” he concluded.

    Quinn expects US iron ore production to benefit from infrastructure projects and stimulus spending in China in 2013.

    Sentiment: Strong Buy

 
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