BRIC demand key driver for commodities

Evy Hambro, manager of the BlackRock World Mining fund, highlights research from resources company BHP Billiton which estimates steady base metal consumption growth in BRIC countries to 2050. BHP Billiton predicts BRIC aluminium consumption to grow to 136% of the world’s 398% consumption; a rise from 11.6% last year. Data from resources company Rio Tinto shows China’s demand for base metals has grown significantly over the last decade. Its iron ore market share has risen from about 12% of total world demand in 1996 to 45% last year. Copper demand has risen from around 11% in 1996 to 23%...