The huge hike in oil prices and drop in commodity prices in the '70s and '80s did not help. Mining companies, such as tiny Griffin Mining, are setting up shop in China as part of the massive wave of foreign investment in what could be the world' s largest marketplace in 20 years time. Many African countries are being revisited by Western companies where stability and rule of law have been achieved. But the key driver that is changing the outlook for mining groups is that they have slashed costs through automation and buying cheaper equipment from Far Eastern countries such as China. The long and short of the argument is that while mining profits will not remain unaffected by the rise and fall in prices, the higher level of profitability will be more sustainable than in the past.
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