AngloAmerican Investor Presentation Deck
It is this interplay that explains the emergence of new structural periods in the price of
commodities.
Copper Demand - kt
32768
16384
8192
4096
2048
1024
512
256
o Copper Demand
• Mining Productivity
1880
Metal Demand and Mined Productivity
Anglo American, 2023
Cocochocogo 8
2 x 8
во ово повод
1900 1920 1940
1960
coso coso000
che colo
1980
2000
2020
128000
64000
32000
16000
8000
4000
2000
1000
500
2040
Labour Productivity in Mining - Tonnes of Rock/Man
2000s on - mining productivity starts
to flat line, "low hanging fruit" has
been picked. Easy gains in reducing
the material intensity (i.e.
lightweighting and substitution) have
run their course and non-Western
centres of demand (with markedly
different philosophical attitudes to
those in the West) start to emerge -
real prices rise.
1970s-1990s-following the oil
shocks of the 1970s and the
emergence of neo-Malthusian
economics as captured in the Limits
to Growth and the Club of Rome,
Western World industrial activity and
growth declines just as mining
productivity starts to accelerate - real
pricesfall.View entire presentation