Instability of mining and quarrying industry

Without the revenues from mineral and metals, many mineral producing countries would be unable to pay for imports and service their debt. However, over the last years, the terms of trade between exported minerals and imported equipment have seriously deteriorated. The deep depression of metal prices from 1981 to 1986 led many to question the future for minerals and metals. This does not only concern the base metals used extensively in industrial development (iron, copper, nickel, lead, zinc, aluminium), but also the precious minerals and metals generating ready cash (gold, diamonds, silver), the agricultural minerals (phosphates, potash) and the industrial minerals and construction materials.