Glance through the recent first-quarter upgrades from copper miners across the globe, and it quickly becomes apparent that the struggle to maintain ore grades is now a structural problem facing the industry. However, it should be noted that this issue - while not yet so acute - is also relevant to the iron ore industry. This was brought home last month when Luiz Mello, technology director of Vale SA, confirmed that the Brazilian mining giant was considering a range of strategies designed to attenuate the problem of declining grades. Where Vale goes, others will surely follow.
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