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Message: Re: Markets

Jan 23, 2015 11:05AM

Jan 23, 2015 02:14PM

I was wondering what this down market for base metals was doing to the owners of the Resolution Copper project at Superior, Arizona.

...looks as if Rio isn't hurt too badly, but BHP is. That's interesting because several years ago BHP tried to take over Rio Tinto, but were rebuffed. Good for those shareholders as BHP has been much more damaged of late than Rio.

If you view the following chart, note for better clarity that these are the two largest miners on the planet. In additional to typical base and precious metals, they also produce diamonds, hydrocarbons, and uranium.

https://finance.yahoo.com/echarts?s=RIO+Interactive#{%22range%22%3A%221y%22%2C%22lineType%22%3A%22combo%22%2C%22scale%22%3A%22linear%22%2C%22comparisons%22%3A{%22BHP%22%3A{%22color%22%3A%22%23cc0000%22%2C%22weight%22%3A1}}

BTW, if the market watchers I read are correct about the direction for the gold market, I can't also believe that this downtrend in base metals can contiue much longer.


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