Dangerous Complacency

"Overseas experiences can sometimes help us better understand our challenges. Australia’s mining industry is an apt example. Late last year BHP Biliton’s CEO Marius Kloppers showed how China-driven massive growth in demand had come after a lean period for the mining industry and low investment in the 1980s and 90s, and the subsequent supply lag drove commodities prices up. The Rogers international commodities index rose 354% from the year 2000 to its peak."