BHP Billiton said that demand for commodities is not just being driven by Chinese economic growth, other emerging economies are following. Mr Chip Goodyear CE of BHP, in a presentation to a mining and steel conference in Miami, said "Demographics and economic development could continue for years. This will require significant new mine capacity."

Mr Goodyear said that demand from BRIC countries for aluminium, copper, nickel and oil is expected to continue to grow at a high rate. Aluminium demand from those countries is expected to grow from 6.1 million tons in 2002 to 47.9 million tons in 2015 to 67.9 million tons in 2025 and 136 million tons in 2050. Copper demand from the BRIC countries is expected to grow from 3.5 million tons in 2002 to 18.6 million tons in 2015, 23.6 million tons in 2025 and 37.2 million tons in 2050. Nickel demand is expected to grow from 180 000 tons in 2002 to 1.2 million in 2015, 1.8 million in 2025 and 4.1 million in 2050.

"China's per capita raw materials consumption is well below that of developed countries," Goodyear said of the potential for Chinese commodities demand to keep growing.