Deloitte warns that 2012 will be a difficult year for mining; Rising costs of doing business; Commodity price chaos; Australian royalties pressure. The "Tracking the Trends 2012" report released by financial services group Deloitte in January 2012, painted a bleak picture of mining in 2012. This came in sharp contrast with the forecast of industry leader, France's Imerys SA, which believed it had achieved 20% growth in net income for the full year 2011 and that the trend would continue into the new year. Deloitte's report outlined 10 difficulties it believes the mining industry will face in 2012. Of these, the most challenging will be the "rising cost of doing business." Costs are going up across the board and the report attributes this to accelerated production due to rising commodity prices. To read more, the report can be downloaded in full from: www.deloitte.com/assets/Dcom-SouthAfrica/Local%20Assets/Documents/Indust...
