The reporting season, the falling dollar and a minor rebound in the iron ore price suddenly has a feeling that the bottom is in pervading mining equities. There even a little panic buying setting in with RIO up 21% from its lows in 8 weeks. That’s what the MCA thinks:
The embattled mining sector will stage a recovery as exports of key commodities accelerate over the next five years, the Minerals Council of Australia forecasts.
MCA chief executive Brendan Pearson denied the industry was going through “doggone days” but conceded it had been buffeted by world markets.