THE MINING SECTOR – MIRACULOUS RECOVERY, BUT HOW ARE THE MIGHTY FALLEN!
Many of you will recall that markets were in the depths of despair in January last year with oil looking cheap and the demand for commodities and resources by China having all but dried up. You couldn’t give mining stocks away. Just as an example at their zenith a few years ago Rio stood at £60 in 2008, BHP Billiton stood at £18 a share in 2008 and £23 in 2011 and Anglo American at £35 in 2008 and £33 in 2011.
The recovery from a very ‘trashed’ position has been both gargantuan and miraculous. Is there more gravy to be had! I am not one to answer that question, but I know a man who is! I will ask Kieron Hodgson, our celebrated mining analysts to write a small piece on this subject when he returns from holiday.