Market forces will exert themselves on commodity oversupply - Albanese

Natural market forces will start to bring oversupplied commodities including iron ore and copper back into balance over time, and eventually lay the groundwork for the upswing in the supply-and-demand cycle, according to mining veteran Tom Albanese.

The road to higher prices and tighter markets may be long, but the underinvestment in the cycle today will create conditions of scarcity in the years ahead, the ceo of Vedanta Resources and the former head of Rio Tinto said on the sidelines of the Zambian Mining Investment Forum in London this week. “It’s difficult for the Zambian mining industry or any mining industry to attract capital in this global environment and that won’t change until we begin to see improvements in copper’s demand profile and a reduction in the expected supply surplus, not to...

Published

Mark Burton

July 02, 2015

01:00 GMT

London