Last Updated :
09 February 2010 at 12:05 IST
Xstrata profits down, bullish on future demand
LONDON (Commodity Online): Xstrata (LON:XTA), a major global diversified mining group, listed on the London and Swiss stock exchanges, reported 41 percent drop in its annual profit in 2009 but still remained bullish on the products its mines out.
According to Xstrata chief Mick Davis commodities are all set to regain its lost ground where supply constraints are to be addressed and not demand problems.
While late 2009 did give Xstrata some boost, weaker dollar put it back into red. Xstrata is pinning its hopes on Asian tigers, China and India to boost its revenue.
Keeping this faith, Xstrata is investing heavily into not only its mining projects but even acquisitions of like minded companies across the globe.
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