Tuesday, January 25, 2011

The Canadian Mining Industry is "totally dependent" on the Chinese Economy

Chinese demand kept recession at bay
Teck Resources Ltd. president Don Lindsay told a Vancouver mining conference Monday that this country's dependence on China has saved it from going through the worst of the recession but is likely to bring volatility in the future.

"All of us in the mining industry are totally, totally dependent on the Chinese economy," he said at the Association for Mineral Exploration's annual conference at Vancouver. "Their demand for commodities has kept prices high. The ripple effect throughout B.C. and the rest of the country has been very, very important."

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