Word: copper
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...home to the single finest collection of Mesopotamian antiquities the world has ever seen: The Vase of Warka, the first naturalist depiction of human life in stone; The Mask of Warka, the first naturalist depiction of the human face; The Bassetki statue, the first known lost-wax method of copper casting. On and on and on. Every step you take in the Iraq museum, you get to say "the first." If there were truly a cradle of civilization, you can't get closer to it than the Iraq museum. Its opening proclaims to the world that Iraq is more than...
...Beijing has not decided staying home is better than "Going Out." State companies are still sitting on mountains of cash, and although China's economy is slowing, officials see the global recession as a prime opportunity to cheaply acquire holdings of strategically important natural resources such as iron ore, copper, oil and gas - commodities China's leadership knows it will need much more of in the long run. In the past month, Chinese companies have bought assets abroad at an unprecedented pace. Aluminum Corp. of China (Chinalco), a major holding company focused on resources, has announced plans to invest...
...material producers over new contracts. During the boom years, when Chinese companies' appetite for virtually every metal was voracious, they got stuck with stiff price increases. But the deal could give Chinalco, which already owns 9.3% of Rio, additional stakes in the mining company's choicest deposits of copper, iron ore and bauxite. The secretary general of China's Iron and Steel Association, Shan Shanghua, has already hinted that Chinese buyers could have some additional clout at the bargaining table...
...Considering how far mineral prices have fallen, some analysts believe Chinalco might actually be paying a premium for Rio Tinto assets. But BOC International's Xu says "the price is much, much lower for the assets - particularly iron ore and copper - than it would have been just six months ago. This seems like a pretty good deal." As long as commodity prices are depressed, Chinese companies - having learned the pitfalls of "Going Out" - are likely to be ravenous buyers...
...China's growth rate may be slowing in concert with the world economy, but even at that slower rate, its economy continues to expand, requiring a steady increase in supplies of oil, copper, aluminum and other minerals. And laying in sources of supply for those commodities also helps it prepare for the next boom. As economies across the world shrink, Chinese officials have told reporters in Beijing in recent weeks that they see a rare chance to expand its sources for primary commodities. "There are editorials in the Chinese press saying that this is a one-in-one hundred-year...