BHP Billiton Sees Global Commodities Demand Rising 75% Over Next 15 Years

Posted on October 24, 2013 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

LONDON–Anglo-Australian mining firm BHP Billiton Ltd (BHP) expects global commodities demand to grow 75% over the next 15 years driven in part by continued urbanization in emerging economies, the company’s chief executive said Thursday.

Speaking at the company’s annual general meeting in London, Andrew MacKenzie told shareholders “we are already seeing signs of recovery in the global economy” after a challenging year due to slower global economic growth and weaker commodity prices.

At the same meeting, Chairman Jac Nasser said the company is seeing moderate growth rates in the U.S. economy and a stronger U.S. housing sector and stock market. BHP expects continued recovery in the U.S. despite risk from the unwinding of the Federal Reserve’s monetary easing policy.