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Commodities Briefing - Categorized | Metals and Minerals, Resources more

Mining tries to dig its way out

Posted on 16 October 2008

From Businessweek.com: What goes up must come down. After a record-breaking 10-year boom for commodities, it was inevitable that prices would have to retreat—especially in the face of global financial turmoil and sagging economic growth. And retreat they have: The prices of some metals are down by more than 50% since the start of 2008, dragging with them shares in mining giants such as BHP Billiton (BBL) and Rio Tinto (RTP).

Is it the end of the party for natural resources? “We’re definitely seeing a slowdown in the mining sector,” says Iain Armstrong, divisional director at investment firm Brewin Dolphin in London. “Company [share] prices will remain weak, as we’re past the best of the current commodity cycle.”…. Full Article: Source


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