Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Antofagasta Sees China’s ‘Huge’ Metals Demand Continuing

June 28 (Bloomberg) -- Antofagasta Plc, the operator of four copper mines in Chile, expects to benefit from “huge demand” for metals as China and other emerging economies develop, said Chief Executive Officer Jean Paul Luksic.

"There’s a tremendous demand push by the industrialization and urbanization of China,’’ Luksic, whose billionaire family controls Antofagasta, said today in an interview in London. “You see huge demand for all these metals.”

The company will continue to invest in new mines in Chile and overseas to meet demand from the so-called BRIC economies of Brazil, Russia, India and China, Luksic said. Mine projects will “take time” to meet rising demand, he said.

Antofagasta, which is developing new mines in Pakistan and Zambia, has fallen 19 percent this year in London trading as investors sold producers of commodities on concern the European debt crisis will slow global economic growth.

To contact the reporters on this story: Matthew Craze at mcraze@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.