Ann: Recent Developments in Saudi Arabia, page-38

In any event, sustained short term gains are more likely to come from progress in Oman than from Saudi. Copper prices are still being punished by shorters, who seem to be pushing to test historical long term $1.60 support/resistance area (check attached LT copper futures chart). But the harder they push, the more severe the recoil will be. Fundamentally, copper will always be in demand, and our largest investment in the RI has come from India, the second most populous country in the world with the ambition of a 20yr old but the body of a centenarian. The copper price might be putting fear into some, but for others it is providing a once in a lifetime opportunity for cheap front row seats to the next boom economy.