Mining demand set to increase dramatically

The world's mining companies are deferring their expansion projects in the face of China's waning demand, but global demand promises to increase dramatically in the coming years, Deloitte Touche Tohmatsu said on Wednesday. As the driver of the world's mining industry, the country will create huge demand in the following years, said Karl Baker, partner and mining advisory at Deloitte. As commodity prices decline and global economic uncertainty persists, it is harder for mining companies to predict future demand patterns, said Philip Hopwood, global leader of Deloitte's Mining Practice.

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