James Harman, head of business development for AngloAmerican’s iron ore and coal divisions, forecasts world crude steel production would grow to about 1.8bn tons by 2015 from about 1.4bn last year, supporting a need for more iron ore.
“Urbanization in China will drive demand for our key metals and minerals, with a greater focus on high-quality materials” he said.
By 2020 AngloAmerican could be producing as much as 150 million tons of iron ore annually if studies underway at the company’s Minas-Rio project in Brazil continue to show strong potential for growth.
A Citibank analyst forecast a global iron ore supply glut of around 100 million tons by 2015 due to over-production from new projects. There will be about 30-50 million tons of increased demand from the reconstruction of Japan.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.