2 -
1
Hong Kong: Mining and Metals
Hong Kong cannot claim to be among the leading mining areas in
the world. In recent years the value of our miniscule production of
iron ore, feldspar, kaolin and quartz has averaged less than US$2 million
per annum and our tiny iron ore mine has now closed down. On the other
hand, it is possible that a small tungsten mine may be reopened soon
after being closed down for 10 years.
Equally, although we are a user of metals for some of our
industries, we produce little of our own. We do, however, have one of
the largest gold markets in the world, with silver trading soon to be
added; and our commodity futures exchange could well, before long, branch
out into trading in metals. Indeed, I think Hong Kong will eventually
become a major commodities trading centre in this part of the world,
with close links with the London and New York markets.
World Trade in Minerals and Fetals
-
The failure successfully to cartellise or control world trade
in minerals and their refined products gold being an exception until
recently - has meant that producers have simply had to adapt themselves
to movements in market forces. Even today, when much of the world's
production and trade in minerals and metals is in the hands of large
firms and groups, prices are, for the most part, determined on relatively
free markets such as the London Metal Exchange.
/Apart perhaps
T
No comments yet.
Private notes are available after approval.