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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (38453)	6/11/2009 7:48:12 PM
From: LoneClone	Read Replies (1) of 195220

Antofagasta Sees Grounds For Optimism On Copper Demand, Econ Wed. June 10, 2009; Posted: 06:30 AM tradingmarkets.com LONDON, Jun 10, 2009 (Dow Jones Commodities News via Comtex) -- ANFGY \| Quote \| Chart \| News \| PowerRating -- London-listed Chilean copper miner Antofagasta PLC (ANTO.LN) Wednesday said there are "grounds for optimism" that the global economic downturn has bottomed out and sees signs that copper supplies may not meet demand in future years. "When worldwide demand recovers its normal rate of growth, a shortfall in mine supply could again develop. We believe that there could be strong support for the copper price in the years to come," Chairman Jean-Paul Luksik told shareholders at the company's annual general meeting. Luksik said stronger-than-expected buying from China had supported a recent copper price recovery and, looking ahead, marginal improvements in business and consumer confidence, coupled with improvements in financial markets, provides grounds for optimism for a broader recovery. Antofagasta operates three copper mines in Chile. It also has transport and water divisions. Company Web site: antofagasta.com -By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com (END) Dow Jones Newswires 06-10-09 0630ET

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