Commodities remain hot for the time being, but for how much longer? The bulls point to global economic growth lead by China’s insatiable demand for raw materials. To further emphasis the bullish view they point to the emergence of India for follow through demand. The bears remain convinced China’s growth is unsustainable and with higher interest rates and high oil prices, the United States economy is poised to slow. Both groups can make a convincing argument and both will be proven right in the fullness of time. Profitability and balance sheet strength for the mining industry has rarely been better. Is this a time to be bold or cautious? In this paper, the author will address the dilemma facing today’s management as they pursue growth and try to minimize risk.