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Miners jostle over China’s coming of age

Posted on 03 December 2012

As the Chinese economy develops into a more consumer-driven beast, the world’s mining giants are fighting to look prepared. No surprise that China was the silver lining as Rio Tinto last week announced it was targeting $5bn (£3.1bn) of cost savings across its business by the end of 2014 given the “volatile” macro-economic outlook.
As the FTSE 100 miner, the second largest in the world, warned of “major uncertainties” for American and European growth, it could add least offer investors reassurance that it was “guardedly optimistic” about China, predicting a slight rise in the country’s GDP growth to over 8pc next year………………………………………..Full Article: Source


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