demand to double going into 2020, page-2

Saul Eslake - ANZ Chief Economist

http://www.asx.com.au/resources/podcast/library/investor_hour070606.pdf

Pages 10,11,12 Aluminium demand page 12

Graph page 12 shows China just starting on a path well worn by western nations

Another 40 years to go and already using as much as developing countries???

Think of current global metals and energy demand....

VERY BIG PICTURE CURRENTLY

NOW (at a minimum)

Times 2 for China

Times 2 for India

Times 2 for Russia

Times 2 for Brazil

Times 2 for rest of Asia

Times 2 for continued developed nations use

That is a VERY VERY BIG PICTURE!!!

This is why Rio bought Alcan and BHP wants RIO

I think this is a once in a lifetime event that has started

Think about it 2 Billion people already use 66% of worlds resources and another 4 Billion want in on the action!!!

So even if you double what we already know of current resource demands that is bigger than we have seen in history

There is still 700 million people in China living on less than $2 a day... thats twice the population of US and OZ and we already have $100 oil....

Another situation is that a lot of developed countries infrastucture... bridges, pipes etc need replacing after 50 years

The resource boom is not over...

This is just the calm before the Storm!!