Executive Chairman of EMR Capital Owen Hegarty is confident that continued growth in Asia and developing nations will support the Australian resources industry.
He pointed to nations like China, India and Indonesia for their economic appetite.
“(They) are all looking to get on that superhighway of economic growth and sustainable prosperity … we think that will be an underwriter of continued strong demand for our commodities.”
Hegarty was talking to the Investing News Network at the International Mining and Resources Conference (IMARC) in Melbourne, Australia, where he also spoke about trends in mining and the outlook globally for 2020.
The trend in 2019 was one of consolidation — the world has seen a few ups and downs, a few humps, bumps and Trumps during 2019 with the China-US trade and tech war.
“One of the great things about Australia — (the) Australian mining and metals processing industries are very resilient because we’re very good at it. World class, best in class, best in show, and therefore you’ve got very good companies, very good operations, very good technology. We’re very resilient when it comes to the downturns, the humps and bumps.”
Heading into 2020, Hegarty said he is optimistic that the trade war is thawing, Brexit will be put to bed and the global economy will get back on track, with Australia continuing to benefit from the Asian growth story. “I think we’re going to see an uplift in demand next year,” he said.
Hegarty also offered his thoughts on his favourite commodities, which he listed as gold for its uses as a hedge for unrest and a preserver of wealth, and copper for its wide and growing array of uses in the technological age.
Listen to the full interview with Hegarty above. You can also click here for our full IMARC playlist.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.