Comment by metalman

China. A recent look on alibaba showed a warehouse with row after row of new diamond foundrys, big ugly and cheap ones, but that has no effect on the quality of diamonds and other precsios stones they are making.

As to the mining industry, it is dying, again, China. Electric mining equipment is bieng introduced at a ferocios rate, and has contributed the largest share to Chinas astonishing 9% reduction in oil use so far this year, and an equaly astonishing reduction in CO2, in spite of an increase in overall energy use.Mad, fully fucking mad good news.

Here in Canada the copper mine in Sudbury just went all electric, and a significant amount of the steel in the electric mining equipment is carbon free through a Volvo subsidiary.

There is talk now that electrification/solar is pushing ahead so fast that we have actualy passed peak oil durring this episode in the oil wars and that oil will experience a demand collapse.