BHP set to detail copper growth plans on Chile roadshow, analysts say
The world's biggest listed miner will be hosting analysts and investors on a roadshow of its Escondida and Spence copper operations from Nov. 17-20.
Chairman and CEO of CEF Holdings Warren Gilman says that markets are ill-advised to sell stocks, bonds and commodities all at the same time and that the “knee-jerk” reactions to Bernanke’s recent comments and Chinese economic data will provide great buying opportunities for commodities investors.
He spoke of gold specifically, and recommended “to look in the neighbourhood of $1,200 – $1,250 as a buying opportunity.”
Gilman had recently returned from a mining conference in Barcelona, where CEOs of mining giants like Glencore Xstrata remained committed to holding off on big, expensive new projects.
Putting large mining projects on ice is a “self-serving” move, explained Gilman, as the delays will reduce supply and eventually drive prices up once again.
“The commodities boom is not dead, it’s just resting.”
