Metal price boom predicted
NZPA London Rio Tinto-Zinc is the latest of niany mining finance com-' panies waiting for “the gun to fire” over metal prices, according to the “Daily Telegraph” mining columnist, Colin Campbell.
Campbell said: “Mining investors may well feel that the cry ‘wolf, wolf’ has gone up too often in recent months, but R.T.Z.’s former banker-chairman, Sir Anthony Tuke, may just be half right when he forecasts the long-awaited economic recovery may not now be too far off.
“Metal prices have certainly been knocked to their knees by the recession — the 1981 average London Metal Exchange price for copper at 79 cents a lb was 20 per cent below 1980’s levels: the average gold price was 25 per cent lower in 1981, silver was roughtly half its previous level: lead, despite strikes, -was nearly 20 per cent softer.
"But when the first light of recovery does shine, metal prices should go up, and in many instances quite quickly.”
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Press, 21 April 1982, Page 23
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161Metal price boom predicted Press, 21 April 1982, Page 23
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