BHP CEO Andrew Mackenzie has shared his positive views on the fundamentals of the mining industry following the Chinese government's recent economic policy summit. In a speech to business leaders and both former and current politicians, Mackenzie said ''I would say to you the Australian resources industry is worth backing.'' He added that I think even more than we might think they are going to require us to supply the resources to continue to develop not just China but much of north Asia as well. Already in the second half of this year, strong steel demand from China has led to the price of BHP's most lucrative product, iron ore, outperforming expectations. However, this rebound has not been seen in other commodities such as coal, copper or gold. (VIEW LINK)
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