Rio Director Copper Bullishness Sparked by Cisco Boffin's Remark
- Output at existing mines to reach a peak by 2017, Clark says
- Electricity grids in India and China to boost demand
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An engineer at Cisco Systems Inc. once told Rio Tinto Group director Megan Clark that electrons travel faster through copper than the air. That observation helps explain why she’s bullish on the red metal.
“It’s not going to be substituted any time soon -- it’s still one of our best materials,” Clark, also a former chief executive officer of Australia’s Commonwealth Scientific and Industrial Research Organization, said Wednesday at the Bloomberg Summit in Sydney. “I like copper from every which way I look at it over the next 10 years.’’