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After Descent to Hell, Miners Emerge Blinking Into Daylight

  • Prospects transformed as industry meets in London for LME Week
  • Producers learn lesson of past overspending: Baring’s Burstow
A dump truck drives along a haul road in an open pit mine west of Kalgoorlie, Australia.
Photographer: Carla Gottgens/Bloomberg
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When the biggest names in mining arrive in London this week, the surroundings will be familiar, the mood unrecognizable.

A year ago as prices slumped, talk at the annual London Metal Exchange gathering was of bloodletting and journeys through hell. On Tuesday, the 1,900 dinner guests under the huge tulip-shaped chandeliers of the Great Room in Park Lane’s Grosvenor House Hotel, will be relieved to have survived the industry’s biggest crisis in decades.