Arab Today, arab today bhp sees modest growth in china
Last Updated : GMT 23:49:03
Arab Today, arab today
Arab Today, arab today

BHP sees modest growth in China

Arab Today, arab today

Arab Today, arab today BHP sees modest growth in China

Sydny - AFP

Global mining giant BHP Billiton said it expected Chinese growth to remain muted in coming years and saw little improvement in coal and iron ore prices. But the world\'s largest miner on Thursday said it was well positioned to reap the benefits of China\'s longer-term economic growth, with copper, energy products and potash fertiliser all expected to boom as the Asian giant modernised. BHP chief executive Marius Kloppers said the mining firm expected China\'s growth to remain in the range between \"seven and eight percent in the coming years... lower than the double digit growth rates seen over the past decade\". Given that, Kloppers said BHP did not expect \"any material pricing upside in the near term\" for iron ore and coal, key ingredients in steelmaking which have seen a \"sharp decrease\" in value due to slowing demand. However, Kloppers said BHP saw great opportunities in China in the longer term due to its \"unique and substantial industrialisation and urbanisation\". \"The focus will gradually switch toward greater mechanisation to drive productivity growth and to the next level of consumer goods, such as white goods, heating and air-conditioning, cars, stoves, and other similar goods,\" Kloppers told shareholders at BHP\'s annual general meeting in Sydney. \"This... will naturally result in an eventual moderation of demand for commodities such as iron ore and coal, but sustained increases in demand for commodities such as copper and the suite of energy products.\" Kloppers said BHP expected overall commodity demand to increase by between 50-80 percent in the next 15 years. Chairman Jac Nasser said incoming China President Xi Jinping was expected to continue with Beijing\'s current five-year plan focussed on economic reform and growing domestic consumption. Nasser said global energy demand was expected to increase by more than one-third over the next two decades, and China, India and the Middle East were expected to account for 60 percent of that growth.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bhp sees modest growth in china Arab Today, arab today bhp sees modest growth in china

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bhp sees modest growth in china Arab Today, arab today bhp sees modest growth in china

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday