China is key to metals confidence

The base metals market is waiting for the leadership change in China and the outcome of the US presidential election, according to Andrew Michelmore, chief executive of MMG, the international miner majority owned by China Minmetals Corporation. Mr Michelmore, who led MMG's unsuccessful bid for Equinox of Canada and its subsequent purchase of Anvil Mining, also told mining correspondent Helen Thomas that China's regulators are not supporting growth for growth's sake and have become "meticulous" in asking state-owned mining companies to demonstrate their deals will add value.