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Anglo American says China, India to power commodity demand
London (AFP) April 15, 2008 Global miner Anglo American predicted on Tuesday that the booming Asian economies of China and India would drive strong demand growth for most commodities over the next ten years. "Over the next 10 years, we anticipate strong demand growth of 4.0-5.0 percent annually for most key commodities, driven mainly by China, as well as by India and other developing countries," said Anglo American chief executive Cynthia Carroll at an annual shareholder meeting in London. "This is likely to be bolstered by higher than historical real prices, tight supply and robust demand growth." The group was "very positive" on the demand outlook for coal, copper, iron ore, platinum and palladium, she added. Carroll, who has headed the Anglo-South African firm since March 2007, stressed that the mining sector would continue to suffer from high production costs, surging crude oil prices and staff shortages. The sector would also face further problems "related to assurance of electricity supply -- most critically in South Africa," she added. Anglo American is the largest mining company in South Africa and generates about two thirds of its earnings there. In recent months, prices of gold, silver, platinum and palladium have surged on the back of tightening global supplies and ongoing power shortages in key producer South Africa. Community Email This Article Comment On This Article Related Links Powering The World in the 21st Century at Energy-Daily.com
Sasol Synthetic Fuel Wins Approval For Commercial Aviation Use
Johannesburg, South Africa (SPX) Apr 10, 2008Sasol has announced that it has become the first company worldwide to receive international approval for its 100% synthetic jet fuel produced by its proprietary Coal to Liquids (CTL) process. Sanctioned by global aviation fuel specification authorities Sasol CTL will be the first fully synthetic fuel to be approved for use in commercial airliners. |
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