In a hole

The Economist reports that recent commodity busts have left more of a mark on the barren mining region of northern Chile than preceding booms. For example, Sierra Gorda, a ramshackle copper-mining village in the middle of the Atacama Desert, now finds itself in a hole. It actually looks like it is heading toward a decrepitude, despite huge copper mines carved into the hills around it. Moreover, from Chile to China the sense that another once-in-a-generation raw-materials boom has come to a definitive end is now haunting global commodities markets…

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