Business
‘China is motoring ahead’: Australian mining giants ride Beijing’s cash splash – Sydney Morning Herald
China’s building boom has provided a gift for Australia’s mining giants who were steeling themselves for huge disruption due to the coronavirus pandemic.
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This time last year, when coronavirus cases started sweeping the world, Rio Tintos Jakob Stausholm was doing the same thing as most other chief financial officers of big global businesses: steeling himself for a period of economic disruption.
China, which consumes half of the worlds metals, had been plunged into lockdown – halting industrial activity, casting a cloud over demand for Australias commodity exports. Copper prices crashed 20 per cent….
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