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True wealth. . .

THERE’S generally always a little more to a story than

first meets the eye. Dig a little deeper under the surface

and there’s a different – and very often – far more

interesting angle that can easily be overlooked at first

glance.

Take, for example, China’s obsession with copper. Look

deeper than the numbers involved – they are pretty

impressive as it is – and the story becomes seriously

interesting. We’ll start with those numbers. The demand

for the world’s oldest mined metal is such that, by 2020,

China’s consumption will double, accounting for a shade

under half the world’s copper sales. When I say a shade, I

mean 49 per cent.

Statistics like that are the reason companies are investing

(see page 17, $10m investment to double capacity)

heavily in the ‘red gold’. Then again, it’s hardly surprising

since the Chinese government announced in 2008 a $586

billion spending plan ‘intensive in copper use’.

Chile, as an example, sold $9.8 billion of copper to China

last year – accounting for 19 per cent of the South

American nation’s exports and six per cent of its gross

domestic product. That is serious mining.

The wealth that comes with China’s insatiable desire for

the ore is not only confined to the boardrooms and

investors either.

A dock hand on the Yangtze River, stating that shipments

have risen almost ten times at the port over the past

decade, bought two apartments – no doubt brought on

by an increase in his working hours.

The real wealth, however, comes at the end of the line.

Villagers in Bentang pooled their savings and bought

cement poles to string wire for electricity. It took a further

six years before they could afford the cables and

transformers to bring that electricity.

But a widow living in a

wooden house first switched

on

her

eight-year-old

refrigerator in 2008, and

another villager has three

bulbs burning brightly inside

his house now, allowing him

more time to work, to earn

money, to prosper.

Quite simply, that is priceless.

David Bell

Editor

Wire & Cable ASIA – July/Au

gust 2011

6

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