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For miners, the best is yet to come
Toronto, (The Globe and Mail) - The bull run in commodities is far from over, according to a prominent market strategist who predicts base metal stocks will take a breather before resuming their ride on a "once-in-a-millennium" boom that will last at least two decades. Bank of Montreal global portfolio strategist Don Coxe is expected to deliver his exceedingly bullish forecast at an industry conference in Florida today where the bulk of the world's major mining executives have gathered.

Mr. Coxe, who correctly predicted the start of the mining boom at the same conference six years ago, believes that metals demand from the roaring economies of China, India and other developing nations will outweigh the effects of a U.S. recession and equities bear market. "It has become clear that this is a once-in-a-millennium commodity boom that will last at least as long as the commodity crash - two decades," Mr. Coxe wrote in a report titled "The Music of the Metal Markets." China's move to buy a 12-per-cent stake in Rio Tinto PLC for $14-billion (U.S.) ahead of rival BHP Billiton Ltd.'s $147.4-billion hostile bid for Rio, could end in the biggest merger in history, Mr. Coxe noted, evidence of how much China is changing the world economy. "Faced with a takeover of the No. 3 iron ore shipper by the No. 2, China authorized a blocking attempt by one of its state-controlled entities," Mr. Coxe said.