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Non-Tech : The Conflicted Thread

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From: johnlw	1/16/2012 1:49:22 PM
	of 841

Interview with MDI CEO ...*With this economic uncertainty, are you worried?* Petrified – and yet business has never been so good. A couple of my directors are mining executives and they say it is all about reserves dropping. And nobody cares about the price next year, but everybody is thinking about prices in 2018-2020. All their projects are two years behind and they all have to catch up. What they really care about is Asia, which is the only thing that counts in commodity markets. They really don’t care if China is growing at 10 per cent or 3 per cent, as long as it’s not minus 5 per cent. After all, China is now operating on an economic base that was 70 per cent smaller five years ago. Knowing the demographics in Asia, mining companies are looking out five or six years. It will take all that time to get that ore out of the ground. So I totally understand in my head why my customers are doing what they are doing. But, in my gut, I’m scared to death, as I read every day about what the Americans or Europeans are doing or not doing.... theglobeandmail.com

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