Mining recovery underway: Fund boss

The CEO of Henderson Global Investors says the mining industry will re-strengthen over the next few years, and there's still plenty of money to be made in the sector.

 

AAP reports Henderson chief Andrew Formica said the mining industry would continue to perform well over the coming years.

 

“We are going to get a recovery underway in the next couple of years [in mining],” he said.

 

Formica said China's commitment to economic growth of 7.5 per cent in 2013, and the ongoing economic recovery in the United States would boost resources companies.

 

He said a raft of new management changes across the industry, particularly within the sector's largest companies, would be a positive move for the sector.

 

Formica said Chile, another mining-based economy, was also an attractive place to invest money.

 

Henderson Global is based in London and manages over $100 billion of assets.

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