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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (47842)	11/20/2009 10:03:16 PM
From: LoneClone	Read Replies (1) of 195238

BHP Billiton head says don’t expect quick growth Malaysia Sun Friday 20th November, 2009 story.malaysiasun.com The head of the world's largest miner, BHP Billiton chief executive Marius Kloppers, has said demand in developed nations remains sluggish for Australia’s resource products. Mr Kloppers has warned said the strength of the global recovery may be extended with restocking slowing in China. In an address this week, he said strong commodity exports had underpinned a world-beating performance by Australia's economy during the worst global downturn since the Great Depression. But he warned that the bounce-back had been slower than expected and the transformation of China's economy would be a complex process. He said: "We've seen that the economic rationale for continued growth is compelling, but there are other forces at work in this global economy. We've seen the world come out of this recession a little bit more slowly than we've seen in other events. There's still a lot of hardship out there and I think that on balance we remain relatively cautious in the short and medium term." China was Australia's third-largest investor last year, behind the United States and Britain.

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