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Recent commodity downturn just a blip – Jim Rogers

Jim Rogers says that until significant amounts of new supply comes on stream, the commodities super cycle will continue.

by Geoff Candy, MineWeb.com

The commodity super cycle still has legs, says renowned investor, Jim Rogers, as supplies remain constrained.

Asked on Mineweb.com’s Gold Weekly podcast if the recent slowdown in many metal prices and a number of high profile comments about the end of the bull market, Rogers said, “this is nothing more than a blip. The bull market will continue until a lot of supply comes on stream and the problems since 2008 ensure not a lot of supply is coming on stream.”

Rogers said, usually after eight or nine years of a bull market, companies begin to bring new sources of supply online. But, this time around, those that were beginning to think about new supply in 2008 were hit by the financial crisis and many such plans were shelved.

This has continued into 2012 where you have had a number of the world’s top miners, including the likes of BHP Billiton, slowing expansion plans.

Read More @ MineWeb.com

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