Developing world will drive copper: MacKenzie

Apr 08, 2013 | 01:12 PM | Andrea Hotter

Tags  copper, Cesco Week, Center for Mining and Copper Studies, Anglo American, John MacKenzie, Andrea Hotter

SANTIAGO, Chile — Anglo American Plc is "very positive" about its medium- to longer-term fundamentals despite the copper market moving into surplus, John MacKenzie, chief executive officer of the miner’s copper division, said.

"We see ongoing growth in demand, particularly from the industrializing, urbanizing countries like China and others," he said at the Center for Mining and Copper Studies’ annual Cesco Week in Santiago.

"China today accounts for around 40 percent of world copper demand, and we see it continuing to grow its global copper usage position to approaching 50 percent in 10 years," MacKenzie added. "I think we’ll see a lot more growth coming from the Chinese market, all of which needs to be supplied from projects yet to be developed."....





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