Boom prices for commodities fuel:
Mining giant Rio Tinto expects major economies and commodity prices to continue growing in 2007. Chairman Paul Skinner said in the group's 2006 annual report, released on 12 March 2007, that the global economy remains resilient. However, he admitted that Rio faces shortages of truck tyres, explosives and skilled workers. The miner's profits jumped 42 per cent to a record $US7.43bn in 2006. Capital investment is expected to reach.
Optimal Solutions:
The Australian dollar approached $US0.78 on 20 June on the back of record oil and copper prices. In early European trading it was changing hands at $US0.7780. Speculators are back in the commodities market, which is benefiting commodity-linked currencies like the Australian dollar. The latest data from the Commodities Futures Trading Commission show an increase in the number of net long positions in the Australian dollar, which indicates traders believe it will.
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