Tsuen Wan International: Xstrata upbeat about medium- and long-term future for commodities.

June 1, 2011 - PRLog -- Xstrata Chief Executive Officer, Mick Davis has informed Tsuen Wan International that  Xstrata Plc remains positive over the medium- and long-term outlook for commodity markets.

Speaking from an Australian mining conference, Davis said that the recent de-stocking of commodities inventories in China had helped to destabilize markets.

"The impact has been exacerbated by the events in Japan in March, recurring concerns about southern European debt and unrest in the Middle East. But despite these short-term influences in commodities markets, we remain confident about the medium-to long-term fundamentals of our industry," Davis said.

The CEO said that a rigorous $20 billion spending program at the group over the decade aiming to expand operations and to search the globe for new lodes was intact.  

"New supplies of commodities are increasingly coming from less developed mining geographies, such as the former CIS, Africa and Asia," Davis added.

Commenting on Australia’s proposed 2012 carbon tax he told Tsuen Wan International that “rigorous consultation” would be needed to iron out a workable government policy.


The Xstrata head said the firm was not opposed to measures to reduce greenhouse gas emissions, but said that there were risks from doing this on a regional basis.

# # #

Tsuen Wan International is a leading independent investment company, based in the heart of Hong Kong. Tsuen Wan International offers a variety of investment products for institutional, corporate and high net worth investors in equity debt and FX markets.