mineral resources
ENRC expects markets to bounce back in 2010
(SRI) - Eurasian Natural Resources Corporation (ENRC), the LSE-listed metals and mining group, expects markets to recover to 2007-08 levels by next year, Felix Vulis, head of ENRC’s Kazakh operations said on Tuesday.
“If the market develops the way we see it […] then I think potentially [we are moving] towards reaching the 2008 output level [in 2010],” Vulis told reporters. “I think the full recovery will happen in 2010.”
According to Vulis, the market currently remains vulnerable despite signs of demand picking up and commodity prices improving.
Vulis echoed earlier statements of ENRC’s non-executive chairman David Cooksey who has said that despite sign of growing demand, a “sustained price improvement will require a more general global economic recovery.”
ENRC, like many other Kazakh minders, cut its output in late 2008 due to shrinking global demand.
Tags: ENRC Related articles
Discussion
No comments for “ENRC expects markets to bounce back in 2010”
Post a comment