Mining CapEx Cycle Tracker — ideasfromnelson.org

Mining CapEx Cycle Tracker

Industry capital expenditure index vs. spot price · Supply response lag · 2005–2030F

Boom

Bust

Trough

Recovery

CapEx index (2010=100) · Bar colour = cycle phase · Forecast dashed beyond 2024

Real Spot Price (2024 USD basis)

Current Cycle Phase

Mine-to-Production Lag (years)

Cycle Inflection Events

Major Projects Pipeline

⚠ CapEx indices compiled from Wood Mackenzie, S&P Global, company reports, and USGS. Spot price series inflation-adjusted using US CPI. Forecasts (2025–2030) are illustrative base-case scenarios. Not financial advice.