Agree...I recall not so long ago the world was running out of...

Agree...

I recall not so long ago the world was running out of oil, the price was going to be US$200/barrel - the sky was going to fall in and everyone was selling or not buying petrol guzzlers and now we have prices back around US$75

The same with commodities, they were too high, they have peaked, but they will recover - probably by mid 2009. This has played into the hands of the shrewd Chinese - particularly the steel makers who will use the current downturn to their advantage to push prices much lower than they have been forced to pay by greedy IO miners - revenge is sweet!

The good thing about bauxite is that we know the Chinese only have another 10 years worth of bauxite in their own mines before they run out, they are forward planning & sourcing supply now for well into the future. MKY should be well positioned to provide that future supply.

The fact that the Chinese delegation is visiting in the coming week(s) IMO shows they are still very interested in in our bauxite - they could have said sorry, downturn, no money, no visit, etc. Growth of 8-9% is still expected in China next year and that's hardly a screaming halt!