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Originally Posted by nmap
Actually, I think it's part of a larger pattern that should concern us.
China is putting together a package of natural resources around the world. They're investing for future growth, and preparing for even stronger industry.
And what are we doing? Spending rather wildly, it seems to me.
Can we maintain our status as the primary military power in the world as we sink in an ocean of debt? It seems hard to imagine such an outcome. And what happens to the balance of power as China gets stronger and we get weaker?
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I agree in part,,
But 1st,, Remember Copper is a World commodity and as such is not really owned by anyone. It flows from the source to the consumer via many middle processes and hands.
Much like oil, someone can own a very big chunk and not be the "owner". Yes the oil cartels think they can control the price of oil, but they also own the results. They are in a slave/owner relationship. A couple yrs ago they thought they could ask 200 USD a barrel, currently they don't know what to ask,, and they know they can't eat the Shiite..
The other end of copper mining is the mess it makes of the local environment. It's a very dirty process, leaving behind a very scared landscape.
Besides Copper, there are various other metals from in the same dirt. There will be Mercury, Gold, & Silver. The process of separating is also chemically very dirty.
Additionally, any local involvement with mining get involved with unions. If you have watched the copper mining in South America in the last 10 yrs, the price of copper has bounced like a Yo-Yo because of Chavez, unstable left wing governments and UNIONS..
SO,,, On a World Health environmental level,, union workers level, political level,, Let China deal with the problems.
Worried about where the profit goes,,
Invest in CMM,,, Maybe not...
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Article: China : Metallurgical Corp to raise $5.3 billion in Shanghai and Hong Kong, TendersInfo, September 9, 2009, Al Bawaba (Middle East) Ltd.
Investors wishing to get a head start on China Metallurgical Corporation's IPO can buy between 1,000 and 2 million shares of the company today, according to a statement filed with the Shanghai Stock Exchange (SSE).
The metallurgical and infrastructure construction powerhouse's IPO, to be launched at the end of the month, is expected to be the second largest offering of the year on the Chinese markets.
Its issuance price will range from 5 yuan ($0.73) to 5.42 yuan ($0.79) with a price-to-earnings ratio of 20.63 to 22.36, according to Chinese accounting standards, another statement filed with Shanghai's stock exchange said ...
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Quote:
Article: METALLURGICAL CORP. EXPECTED TO MAKE DIM DEBUT IN HONG KONG,
AsiaInfo Services, September 24, 2009
HONG KONG, Sep 24, 2009 (SinoCast Daily Business Beat via COMTEX) -- Metallurgical Corporation of China Ltd. (SHSE: 601618 and SEHK: 1618) is likely to stage a dissatisfactory performance after getting listed on the Stock Exchange of Hong Kong (SEHK) on September 24, predicted analysts on September 23.
The dual-listed metallurgical company fell below its Hong Kong initial public offering (IPO) price in the grey market trading on September 23, dragged by a consecutive decline of its renminbi-denominated A shares and a worse-than-expected debut performance of Sinopharm Group (SEHK: 1099).
Metallurgical ...
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I might buy at .50 USD @ share,, see what happens in 18 months. Might be 1K$ well spent,, maybe not???
My $00.0002