Is everybody bored with copper now? Here's comment from Oxiana.
Oxiana Sees `Buoyant' Commodity Markets Maintained 2006-12-20 00:25 (New York)
By Madelene Pearson
Dec. 20 (Bloomberg) -- Oxiana Ltd., the fastest growing of
Australia's 10 largest mining companies, said the current
``buoyant'' commodities markets can be maintained in 2007.
``In the short term fundamentals for base metals remain
very strong with low stocks, high demand and subdued supply,''
Managing Director Owen Hegarty said today in an interview filed
with the Australian Stock Exchange. ``We don't really see any
significant cooling of markets over the next year or two.''
Oxiana continues to look at merger and acquisition
opportunities at the ``larger and smaller ends,'' the Melbourne-
based company said. Oxiana, Newcrest Mining Ltd., and other
Australian miners are likely takeover targets, Goldman Sachs
JBWere Pty said June 27.
``Plenty of people are inviting us to look at things and
we're also looking at projects through our own initiative,''
Hegarty said. ``There's plenty going on in this area, as you'd
expect, as the industry continues to consolidate.''
Shares of Oxiana rose 11 cents, or 3.6 percent, to A$3.18
on the exchange at the 4:10 p.m. close of trade in Sydney. The
stock has gained 83 percent this year, compared with the 18
percent rise in the benchmark S&P/ASX 200 Index.
--Editor: Gosman (rav) |
