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He could have bought cheaper mines in Africa and South America, but he preferred Asarco because it offered a stable business opportunity in the world's largest and high-premium market.
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In all, cheaper mining.
And with each cycle of growth, and each cycle of financial constraints, we endemically and serially exhaust easy and cheap mines, and then under-invest in finding and opening new ones.
Then A child's toy became a cheap mine-clearing robot.
Presumably these initial investments allow for a nice arbitrage opportunity by buying cheap mining hardware and simply keeping the lights on while well-heeled clients drop off checks and take a bit of profit.
India needs more capital intensive underground mining, which has stagnated from an over-focus on cheaper opencast mining.
Problems began many years ago because Germany's coal cannot compete with South Africa's, which is cheaper to mine.
"If colonies on the moon or Mars become a reality, it may be cheaper to mine resources on asteroids rather than transport them from Earth.
Because the high-sulfur coal had been ignored for so long, the coal seams are thicker, not as deep underground, and thus easier (and cheaper) to mine.
Extracting lithium brine from salt flats is significantly cheaper than mining hard rock lithium, which constitutes a large share of the new lithium production coming online.
And when it comes to fossil fuels, coal is the easy winner - it is generally easier and cheaper to mine, and easier to transport using existing infrastructure such as roads and rail, than oil or gas.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com