Mining Weekly cited Mr Ben Magara ED of Anglo American as saying that there are great signs of a recovery in the mining sector with the copper price rising 76%, platinum 25% and oil 54%.

Mr Magara said that the mining sector was the right place for investors to be in general and the emerging markets in particular.

He added that although the coal price had fallen from USD 130 per tonnes, the current price of USD 60 per tonnes was the third best price in the last 10 years.

Mr Magara said that the fundamentals that had given rise to the recent mining boom were still in place and some USD 22 trillion was being budgeted for expenditure on global infrastructure, China alone contributing 43%. Mining represented 35% of the market capitalization of the JSE and 50% of South African rail use was mining based.

He said that Africa’s mineral resources positioned the continent well for taking part fully in mining growth.

(Sourced from miningweekly.com)