By Veronica Brown
Reuters
May 4, 2004
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=5037044 [1]
LONDON -- China's hunger for raw materials will drive
further demand for commodities such as metals despite
worries that the country's economy might overheat, a
panel of mining specialists said on Tuesday.
Metals prices fell sharply last week, with China seen
as the chief cause amid increasingly stringent measures
being implemented by Beijing to stop the economy
overcooking after it grew 9.1 percent last year.
But the panel said last week's losses were no cause for
panic, and rather proof that the country was in a
substantial economic cycle lasting more than 15 years.
"There are only a few sectors in China that are truly
overheated. ... There are very large sectors of the
economy that are not overheated at all," Ivanhoe Mines
Ltd. Chairman Robert Friedland told delegates at a
mining forum in London.
"It's very hyper, extremely bullish ... that the Chinese
prevent a bubble and there's absolutely no doubt that
they will be able to do so," he said.
Frank Holmes, chairman of fund manager U.S. Global
Investors, said talk of a bubble in China was premature.
"People are calling everything that goes through a
dramatic turning point a bubble," he said.
"There are so many different cycles to appreciate when
it comes to natural resources. China is going through a
huge cycle, while the U.S. is going through a four-year
presidential cycle," he said.
Holmes said China's rapid growth was driven by
large-scale industrial production, which marked a major
transformation.
"China is going through another transition. ...They are
doing everything to build up the rural community," he
said, referring to another factor in Cina's economic growth.
"We are in a great, wonderful secular bull market for all
commodities. ... It's going to be volatile," he added.
Jack Jones, executive director of international mining at
CIBC World Markets, a unit of Canadian Imperial Bank
of Commerce, said China had been highlighted as a major
concern but that some major mining groups were upbeat
on the overall demand picture.
"There clearly is potential for a structural as well as a
cyclical upswing for commodities," he said, adding that
sustained Chinese economic growth appeared key for
risk reduction.
----------------------------------------------------
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----------------------------------------------------
RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com [5]
http://www.gold-eagle.com/ [7]
http://www.capitalupdates.com/ [11]
http://www.DailyReckoning.com [12]
http://www.goldenbar.com/ [13]
http://www.silver-investor.com [14]
http://www.thebulliondesk.com/ [15]
http://www.sharelynx.com/ [16]
http://www.mininglife.com/ [17]
http://www.financialsense.com [18]
http://www.goldensextant.com [19]
http://www.goldismoney.info/index.html [20]
http://www.howestreet.com [21]
http://www.depression2.tv [22]
http://www.moneyfiles.org/ [23]
http://www.howestreet.com [21]
http://www.minersmanual.com/minernews.html [24]
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html [25]
http://www.goldcolony.com [26]
http://www.miningstocks.com [27]
http://www.mineralstox.com [28]
http://www.SilverSeek.com [30]
http://www.investmentrarities.com [31]
http://www.kuik.com/KH/KH.html [32]
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm [33]
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm [34]
(In English)
Subscription site:
http://www.lemetropolecafe.com/ [35]
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm [37]
Ted Butler silver commentary archive:
http://www.investmentrarities.com/ [38]
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com [39]
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
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Gold@gwe.net [42]
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Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net [43]
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net [44]
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com [45]
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com [46]
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
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Canada
Toll-free:1-800-363-7053
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http://www.kitco.com [47]
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com [48]
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com [49]
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
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Contacts: David Schectman,
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Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com [51]
314-965-9797
1-800-280-9797
http://www.mocoin.com [52]
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com [53]
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com [54]
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com [55]
----------------------------------------------------
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