Tom Albanese is RIO's chairman...I think it is a given that these guys will always talk up there own game to comfort shareholders...When was the last time a chairman talked down a business.
One thing Albanese has come clean on is his concern about the world financial situation..What is he warning of here??
"-over the next 30 years it is projected that the world will consume as much copper as it has over the last 10,000 years," he said "-"
It would be interesting to see how he came to these numbers. We all know the world will consume more copper over the next decade or more but we all know that substitutes are rapidly taking the place of copper. I had a beer with 2 plumbers last night naturally the conversation moved to copper..They both agreed they would only plumb 1 house out of 5 in copper now. Aluminium wiring technology is well advanced now and may take the place of copper wiring in the future..
The other big question is will supply meet demand? The minor copper shortfall projections only foresee a few short years until production catches up. The south American deposits are mind blowing in size. Try MNC for example (which I currently don't own)the potential here among others will go a long way to meet supply. Not to mention Africa, Canada, PNG..
I know jumpy will probably jump down my neck and say "but remember CDU's forecasts are copper at $2 lb" Sure I agree but it's not going to return spectacular dividends at that level is it??
Just thinking out loud bash me if you like..."Like water off a ducks back" now who said that???... Just kidding fellas!!
Add to My Watchlist
What is My Watchlist?